Juniper price target raised to 26.0 usd from 24 by Salomon Smith
AFX News Asia, 1/15/2002 1:10:00 PM
SAN FRANCISCO, Jan 15, 2002 (AFX-Asia via COMTEX) -- Juniper Networks Inc's price target was raised to 26.0 usd from 24.0 usd ahead of the company's fourth-quarter earnings results by analysts at Salomon Smith Barney, dealers said.
We "believe shares may creep higher as investors anticipate eventual recovery at (a) company considered high quality/technically leading," said the analysts.
Juniper is expected meet Wall Street estimates of earnings per share of 5 cents on sales of 152.52 mln usd, said the analysts, as the company had recently lowered its fourth-quarter earnings and sales guidance.
The analyst do not expect Juniper to offer any first-quarter guidance, nor do they expect any for the full year.
In the upcoming quarter, the company is expected to have a slight rebound in sales to 165.0 mln, said the analysts. The company will be launching new products from its venture with Ericsson, which may have a small impact on earnings, they said.
Juniper's gross margin will hold steady throughout the March quarter, shrugging of pricing pressure and falling component costs, the analysts added.
At 1.06 pm in New York, Juniper was down 0.17 usd, or 0.99 pct at 17.92, while the Nasdaq composite was up 5.77 points at 1,996.44.
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