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Why Juniper Networks (JNPR) Could Reach $34

Story updated at 9:45 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Shares of Juniper Networks (JNPR - Get Report) could reach as high as $34 according to MKM Partners.

Juniper gained 1.4%to $27.8 in morning trading Friday.

The analyst firm maintained its "buy" rating for the company while raising its price target and estimates. MKM Partners notes that Juniper is in the process of cutting costs and buying back stock.

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Separately, TheStreet Ratings team rates JUNIPER NETWORKS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate JUNIPER NETWORKS INC (JNPR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • JNPR's revenue growth has slightly outpaced the industry average of 3.6%. Since the same quarter one year prior, revenues rose by 11.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • JNPR's debt-to-equity ratio is very low at 0.14 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, JNPR has a quick ratio of 2.38, which demonstrates the ability of the company to cover short-term liquidity needs.
  • JUNIPER NETWORKS INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, JUNIPER NETWORKS INC increased its bottom line by earning $0.86 versus $0.36 in the prior year. This year, the market expects an improvement in earnings ($1.43 versus $0.86).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Communications Equipment industry. The net income increased by 58.6% when compared to the same quarter one year prior, rising from $95.70 million to $151.80 million.
  • Net operating cash flow has significantly increased by 152.14% to $390.40 million when compared to the same quarter last year. In addition, JUNIPER NETWORKS INC has also vastly surpassed the industry average cash flow growth rate of 19.40%.
  • You can view the full analysis from the report here: JNPR Ratings Report

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