Zacks Investment Research upgraded shares of Juniper Networks Inc. (JNPR) from NEUTRAL to OUTPERFORM on February 07, 2014, with a target price of $32.00.
We upgrade Juniper shares to Outperform as the company reported better-than-expected fourth-quarter results and also provided decent first-quarter guidance. We believe the increased spending by service providers should support the company's near-term fundamentals. Juniper's expansion into the software defined networking segment is expected to strengthen its position in the networking space. Moreover, strategic cost-cutting methods and the expected measures to boost shareholder value are the other growth catalysts. However, increasing competition, uncertain economic conditions and constricted federal spending remain the possible headwinds.
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