Analyst Considers Downside in Juniper, Believes Recent Shelf Offering More Concerning Than FCPA Probe

Shares of Juniper Networks JNPR have tumbled 5 percent after the company disclosed that it's currently facing an investigation under the Foreign Corrupt Practices Act. Since the fines typically associated with these cases are not overly punitive, MKM Partners' Michael Genovese believes the drop in share price may be more heavily attributed to the mixed shelf Juniper just filed. According to MKM, a larger short-term risk is the company's ability to raise money for use in an acquisition. MKM rates Juniper shares with a Neutral rating and $23 target. Juniper shares last traded at $21.02.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsOfferingsLegalAnalyst RatingsMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!