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Author: newsreporter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3454  
Subject: Analyst comments Date: 7/7/2010 1:43 PM
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Juniper: Piper Turns Bullish
http://bit.ly/9txl31


Piper Jaffray analyst Troy Jensen this morning raised his rating on Juniper Networks (JNPR) to Overweight from Neutral, while repeating his $31 price target.

“Our upgrade has less to do with Q2 results or Q3 guidance, but is more related to our longer-term outlook for networking equipment suppliers and an attractive entry point for JNPR shares,” he writes in a research note. “We believe infrastructure suppliers are benefiting from the start of a significant upgrade cycle, driven by the rapid adoption of bandwidth thirsty applications (video, smart-phones, netbooks). We anticipate Juniper’s routing business will benefit from these trends, but expect it to capture incremental market share in the enterprise and carrier switching markets.”

Jensen thinks the company will meet or exceed the Q2 consensus estimates of $954 million in revenue and profits of 29 cents a share.
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