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Juniper Networks (JNPR) has a Bullish Chaikin Power Gauge rating and has been outperforming the market since mid-January. JNPR is a leading provider of next generation backbone infrastructure for the Internet. Juniper provides routers, switching equipment and security to enable internet service providers to grow their networks.
The company reports 3rd quarter earnings after the close on Thursday 10/22.
Juniper is well into a successful turnaround having been through a round of cost cutting and product upgrades needed to keep up the with rapid growth demands of internet traffic. Wall Street has been slow to acknowledge the turnaround at JNPR but recent price action which puts the stock at new 52-week highs suggests that the turnaround at Juniper is real.
After a strong second quarter earnings report in which JNPR raised guidance for the balance of 2015 and 2016 as well, both Cantor Fitzgerald and Baird & Co. raised their price targets for JNPR, with Baird upping their target to $36, 20% above current levels. Current estimates for 2015 are $1.96 vs. $0.90 last year, with further gains to $2.15 per share expected in 2016.
Buy JNPR at current levels in anticipation of a strong earnings report on Thursday after the close. Juniper has gapped up after each of the past two earnings reports and another strong quarter would likely see a similar reaction, particularly in a market which refuses to give up recent gains.
Juniper Networks has a bullish Chaikin Power Gauge Rating that is driven by a bullish earnings outlook, very strong price and volume activity, bullish Analyst Opinions and upward earnings revisions and the strength of the Telecommunications Equipment group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
