Analyst Sees Juniper (JNPR) Trimming FY09 Guidance

Broadpoint.AmTech is out with a research note previewing Juniper Network's (Nasdaq: JNPR) Q4 earnings, which are expected out after the close today. The firm calls Juniper "a secular grower interrupted by the macro environment" and maintains its Neutral rating on the stock.

AmTech sees Juniper reporting in-line Q4 results: the firm is expecting EPS of $0.32 and sales of $945 million, and said it wouldn't be surprised if revs came in at the low-end of the company's guidance. As for Juniper's outlook, AmTech believes the company will guide FY09 EPS in the range of $1.15-$1.20, slightly below the firm's current estimate of $1.35. The analyst report notes that "operating expense control and the enterprise ramp should preserve margins in the downturn."

That being said, Broadpoint.AmTech believes in Juniper's longer-term prospects, but said it is looking for "weakness in the summer as a likely 1H capex "pause" hits before the enterprise business ramps."

Shares of Juniper are currently trading down nearly 6% ahead of the earnings release. The stock most recently traded at $17.26.

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