雅虎香港財經 Juniper Networks Has Upside Driven By New Router Wins Led By Verizon and Google, Analyst Says While Upgrading Stock
Raymond James analyst Simon Leopold upgraded Juniper Networks, Inc (NYSE: JNPR) to Strong Buy from Outperform with a price target of $37, up from $36.
Leopold sees new router wins initiating a new cycle, led by deals like Verizon Communications Inc (NYSE: VZ) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google.
The projects begin in the first half of 2023 with material contributions in 2H23 and will accelerate Automate WAN (a.k.a. routing) sales into a sustainable $2 billion+ run-rate.
He saw total company revenue growth sustaining in the high single-digits, above buy-side expectations.
Despite Juniper being an incumbent, the rip & replace should add growth. He saw both as good reference deals with others to come.
He considered 2023 consensus estimates low.
Juniper's substantial backlog, price hikes, and campus share gain present tailwinds.
As a result, our 2023 estimates rise.
Based on the higher EPS estimate, he raised his price target.
Juniper is no longer a telco supplier exhibiting low growth prospects thans to a balance of sales from the faster-growing Cloud and Enterprise verticals.
Price Action: JNPR shares traded higher by 4.09% at $28.74 on the last check Friday.
Latest Ratings for JNPR
Date | Firm | Action | From | To |
|---|---|---|---|---|
Feb 2022 | Loop Capital | Initiates Coverage On | Buy | |
Jan 2022 | Morgan Stanley | Maintains | Underweight | |
Jan 2022 | Raymond James | Maintains | Outperform |
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