Nomura/Instinet Upgrades Juniper Networks (JNPR) to Buy

Nomura/Instinet analyst Jeffrey Kvaal upgraded Juniper Networks (NYSE: JNPR) from Neutral to Buy with a price target of $34.00 (from $28.00).

Analyst Jeffrey Kvaal sees several growth drivers for the company beyond the routing recovery. He says webscale spending will likely remain the key market growth driver. He also says the webscale routing business remains intact which offers a healthy foundation for the reset switching program. Kvaal also is expecting Enterprise growth to remain solid. He see some risk to Service provider noting some share loss is likely as telcos centralize their routing functions.

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 $29.03 yesterday.

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