Juniper Networks (JNPR) Gets a Buy Rating from Oppenheimer

Oppenheimer analyst George Iwanyc maintained a Buy rating on Juniper Networks (JNPR) yesterday and set a price target of $31. The company’s shares closed yesterday at $28.11.

Iwanyc noted:

“Juniper reported solid 1Q19 results and provided positive 2Q19 top-line guidance as stronger services contribution offset softness in the cloud and service provider verticals. While management set a more positive tone, margins and EPS were guided down to account for Mist and sales investments ahead of upcoming product launches. We’re positive on Juniper’s product refresh/expansion and expect to see some contribution from MX 5G line-card shipments in 2H19, but do not see potential Mist WLAN/400GbE contribution until next year. We remain engaged as visibility into Juniper’s product ramp improves, but expect shares to remain relatively range-bound with support from its accelerated share repurchase program until further signs of demand/execution are observed. Maintain Outperform rating and $31 PT.”

According to TipRanks.com, Iwanyc is a 4-star analyst with an average return of 10.7% and a 84.0% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Pure Storage Inc.

Juniper Networks has an analyst consensus of Hold, with a price target consensus of $25.72.

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The company has a one-year high of $30.80 and a one-year low of $24.26. Currently, Juniper Networks has an average volume of 3.63M.

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Juniper Networks, Inc. engages in the design, development, and sale of products and services for high-performance networks. Its products address network requirements for global service provides, cloud providers, national governments, research and public sector organizations, and other enterprises.