Markets & Finance

Robbie Stephens Raises Juniper Networks Opinion

Juniper Networks (JNPR) posted $0.09 Q2 EPS. Robertson Stephens upgraded its investment rating on the shares to strong buy from buy.

Analyst Paul Johnson believes the company has the potential to dominate its market. He believes Juniper's strategy -- building a purpose-built router for the Internet -- is right on the money. Although the stocks's valuation is not cheap by any metric, and business visibility remains limited, Johnson believes the stock is a franchise name. He says he may be early on his recommendation, but he would rather be early than late. Johnson essentially left his 2001 and 2002 estimates unchanged as he continues to feel that visibility is low, particularly in 2002.

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