Deutsche Bank (DB) trimmed its price target on Juniper Networks Inc.
(NYSE:JNPR) to $17 from $20, with a "Hold" rating on the stock.
Juniper Networks issued a weak forecast for the first quarter on
Thursday, citing carrier spending weakness and seasonally slower IT
spending. The company expects non-GAAP earnings per share to range
between $0.11 and$0.14 on revenue between $960 million and $990 million.
"Lack of meaningful near-term catalysts, likely share loss to Cisco,
and the potential for below market FY12 growth is basis for our Hold
rating," DB wrote in a note.
Shares of the Sunnyvale, California-based company retreated 3.1
percent to $21.66 on Friday. The stock has been trading between $16.67
and $45.01 over the past year.
