March 22 (Reuters) - Stifel Nicolaus began coverage of network technology company Juniper Networks Inc. (JNPR.O: Quote, Profile , Research) with a "buy" rating, while initiating its peers, Cisco Systems Inc. (CSCO.O: Quote, Profile , Research), Acme Packet Inc. (APKT.O: Quote, Profile , Research) and Polycom Inc. (PLCM.O: Quote, Profile , Research), with a "hold."
The brokerage, which set a price target of $23 on Juniper, said after a lackluster last year, 2007 is likely to be a comeback year for the company, with continued momentum in 2008.
The brokerage said Cisco's year-over-year comparables are getting tougher and the recently completed January quarter represented a peak in terms of growth for the next 12 to 18 months.
Stifel Nicolaus said Acme Packet and Polycom stocks are fairly valued. (Reporting by Aditi Samajpati in Bangalore) |
