The analyst firm raised its price target for the networking and communication devices company to $34 from $27.
Bank of America/Merrill Lynch also raised its 2015 EPS estimates for Juniper to $1.69 a share from $1.68 a share. The analyst firm raised its 2016 and 2017 EPS estimates for the company to $1.97 and $2.13 a share, up from $1.96 and $2.12 a share, respectively.
"Our upgrade is based on our anticipation that core business lines will inflect and return to YoY growth later this year, driven by a plethora of new product releases and sequential growth in North America carrier spending," Bank of America/Merrill Lynch analysts wrote. "Additionally, following Juniper's restructuring and share buybacks, operating margins and EPS leverage should be enhanced."
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 number of 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 good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel its strengths outweigh the fact that the company has had sub par growth in net income."