Updated from 12:27 p.m. ET

Lehman Brothers

lowered its 12-month price target on

Juniper Networks

(JNPR) - Get Report

to $100 from $175 and estimated that full-year 2001 earnings will come in 2 cents below Wall Street's consensus expectations.

Earlier in today's trading session, investors pushed Juniper's shares as low as $57.50, easily breaking through the 52-week low. But the company lately staged a comeback, and was unchanged on the day at $62.88. The closing low for the year is $62.13, and the 52-week high is $244.50.

For 2001, Lehman Brothers expects the networking company to earn $1.04 a share, while 24 analysts surveyed by

First Call/Thomson Financial

expect the company, which is based in Sunnyvale, Calif., to earn $1.06 a share. The firm reiterated its strong buy rating on Juniper.

Lehman Brothers said that while Juniper's spending visibility remains limited, it believes the company is better positioned than its competitors. The firm also stood by its previous first-quarter revenue estimates and expects Juniper to post a top line of $339 million for the period. Yet, Lehman brothers cautioned that due to "persisting macro conditions," Juniper will no longer maintain its pattern of beating and raising estimates, but will instead maintain current sequential guidance for subsequent quarters.

Lehman Brothers said Juniper will continue to gain market share against rival

Cisco

(CSCO) - Get Report

, as IP will continue to be a significant business for service providers.

On Feb. 21,

Dell'Oro Group

said

Juniper amassed 34% of the core router market in the fourth quarter, while Cisco's share fell to 65% from 69%.