Deutsche Bank Cuts Price Target On Juniper Networks (JNPR) To $17
Friday, January 27, 2022 3:17 PM

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.