Juniper Slips on Analysts' Cuts
Network equipment maker Juniper Networks (JNPR) - Get Report was down 2% in preopen Island trading as analysts at Credit Suisse First Boston and Robertson Stephens cut estimates, adjusting for the company's second-quarter warning Thursday night.
Robertson Stephens slashed its 2001 EPS estimate to 50 cents from 93 cents. CSFB cut its 2001 estimate to 55 cents from 97 cents and lowered its price target on the stock to $40 from $50.
Other stocks in the sector were struggling this morning.
Ciena
(CIEN) - Get Report
was down 1.4%,
Cisco
(CSCO) - Get Report
was down 0.2% and
JDS Uniphase
(JDSU)
was down 0.6%.
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