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Sell-Side Reactions To Juniper's Q1 Warning

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Shares of Juniper Networks, Inc. JNPR 7.27% plunged 10 percent after the networking gear maker slashed its earnings and sales outlook for the first quarter.

Let's take a look at the sell-side reaction over the news.

UBS – Rating Cut To Neutral, PT Trimmed To $25

UBS' Steven Milunovich downgraded the rating for the company to Neutral from Buy, while reducing the price target to $25 from $31.

"Although Juniper came into the quarter with macro concerns, we are surprised at the miss given cautious guidance, which may be reflective of general demand problems for enterprise vendors," Milunovich noted.

Citi – Neutral, PT Cut To $27 From $28

"Accordingly we believe Cisco saw similar weakness when they reported January quarter earnings on Feb 10th. We also note Juniper short interest has recently been increasing over the past 8-10 weeks. Within SMID Cap Comm Equipment, Ciena has significant overlap with Juniper at Tier-1 telecoms and we continue to prefer Infinera for its Cloud and Tier-2 Telco / Cable exposure."

"The revenue and EPS miss will likely create pressure not only on Juniper but also on F5 Networks (Neutral rating), Hewlett Packard Enterprise Co. (Neutral rating) and Cisco (Buy rating). However we note Cisco already reported and we would use any...


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