Zacks Investment Research upgraded shares of Juniper Networks, Inc. (JNPR) from UNDERPERFORM to NEUTRAL on January 15, 2015, with a target price of $23.00.
Networking solutions provider, Juniper, posted mixed third-quarter 2014 results wherein the bottom line misses the Zacks Consensus Estimate while the top line matches the same. Further, Juniper provided tepid fourth-quarter revenue guidance. Despite all these, we have upgraded our long-term recommendation on the stock to Neutral as we remain encouraged by Juniper's product launches, cost reduction initiatives and improving execution. Juniper s expansion into the software defined networking segment is expected to strengthen its market position. Increased spending by service providers such as AT&T and Verizon should also support the company's near-term fundamentals. However, increasing competition, uncertain economic conditions and constricted federal spending remain the possible headwinds.
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