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The firm initiated coverage on JNPR with a “buy” rating

Goldman Sachs just initiated coverage on Juniper Networks Inc (NYSE:JNPR) with a “buy” rating and $39 price target —  nearly 25% higher than yesterday’s close. Though the firm acknowledged some near-term headwinds, including budget scrutiny, the analyst in coverage said the company will benefit from its enterprise business.

JNPR is up 0.3% at $31.43 at last check. The stock bounced off its 120-day moving average last week, and is nearing the $32 level, which acted as a ceiling for its mid-February rally. Over the last six months, however, the equity added 13.2%.

Coming into today, eight analysts carried a “buy” or better rating on JPNR, while 11 said “hold,” and three called it a “sell.” The 12-month consensus price target of $36.02 is a 14.6% premium to current levels. 

Now looks like an opportune time to weigh in with options. The stock is seeing attractively priced premiums at the moment, per the security’s Schaeffer’s Volatility Index (SVI) of 23%, which sits in the low 1st percentile of its annual range. 


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By admin