UPDATE: JP Morgan Upgrades Juniper Networks to Overweight on Improving Carrier CapEx

JP Morgan upgraded Juniper Networks

from Neutral to Overweight and raised the price target from $21.00 to $25.00. JP Morgan noted, "Our CapEx analysis in our 2013 Networking Outlook suggests the sluggish carrier spending environment has bottomed and will improve in 2013. In addition, we believe Juniper is poised to benefit from multiple routing product cycles in 2013. Aggressive buybacks and more a proactive focus on operating leverage cement the buy case for us. Juniper Networks closed at $20.98 on Wednesday.