UBS Reiterates Buy on Juniper Networks (JNPR) Following 3Q Results

UBS reiterated a Buy rating on Juniper Networks (NYSE: JNPR), and raised the price target to $33.00 (from $32.00), following the company's 3Q earnings results. Juniper reported 3Q revenue of $1.25bn, driven by better than expected performance in switching and security products.

Analyst Steven Milunovich commented, "Juniper reported 3Q revenue of $1.25bn vs our estimate at $1.23bn, driven by better than expected performance in switching and security products. The company guided Dec quarter sales to $1.29bn, ahead of our estimate of $1.25bn. The gross margin is trending in-line with our expectation, and management appears to be focused on reining in operating expenses. We are now looking for F15E EPS of $2.01, up from $1.93. Overall, Juniper has had a number of new product introductions across its routing and switching portfolios that should help sales performance going into 2016."

For an analyst ratings summary and ratings history on Juniper Networks click here. For more ratings news on Juniper Networks click here.

Shares of Juniper Networks closed at $29.76 yesterday.

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