Juniper: UBS Upgrades on Valuation; Stock Rallies

UBS communications technology analyst Nikos Theodosopoulos this morning upped his rating on Juniper Networks (JNPR) to Buy from Neutral, while maintaining his $21 price target.

“Although JNPR is not immune to macroeconomic weakness, our channel checks suggest solid demand for service provider IP routers,” he writes. He thinks Juniper can hit at least the low end of its 2008 revenue guidance.

Despite the upgrade, he trimmed estimates, and now sees 2008 EPS at $1.03, down from $1.04; for 2009 he goes to $1.16, from $1.38. He now forecasts sales growth of 11 percent this year and 14 percent next year, down from 15 and 17 percent. “Global telco capex and IT spending are at risk in 2009,” he writes.

Read the rest of this post

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »