Markets & Finance

Morgan Stanley Boosts Juniper Networks to 'Outperform'

Morgan Stanley upgraded Juniper Networks (JNPR) to outperform from neutral.

Analyst Christopher Stix says he upgraded on increased confidence in the customer base beyond the preannouncement period; confidence in long-term growth prospects and the product/backbone upgrade cycle in 2002 and 2003. Stix thinks the Internet routing segment is a growth area in the long term. While he recognizes 2002 is likely challenging from a carrier capital expenditure perspective, he remains convinced that Internet Provider routers needed to keep up with increases in data traffic on networks.

Stix believes Juniper is a leader in the Internet router market. He sees $0.40 2002 EPS and $0.65 EPS for 2003. He set a $16 target.

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