Nomura’s Jeffrey Kvaal believes Juniper Networks, Inc. JNPR's “new QFX family of data center switches is set to grow rapidly in 2017.”
Kvaal upgraded the rating on the company from Neutral to Buy, while raising the price target from $24 to $33.
Switching Momentum
The analyst explained that the upgrade was based on the growing strength of the company’s switching business.
“We believe Juniper's total switching unit can grow upwards of 12 percent in 2017,” Kvaal mentioned, while explaining that the growth would be twice the consensus expectations.
The EPS estimates for FY 2016 and 2017 have been raised from $2.07 to $2.08 and from $2.21 to $2.36, respectively.
At last check in Thursday's pre-market session, shares of Juniper were up 1.8 percent at $28.25.
Image Credit: By LPS.1 (Own work) [CC BY-SA 3.0], via Wikimedia Commons© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
