Juniper Networks Shares Rise

Juniper Networks shares were higher 2% on Monday after BMO Capital upgraded the rating on the company’s stock to outperform from market perform while also lifting the price target to $34 from $31.

“At 12x 2018 EPS estimates, we believe the shares are undervalued, with Juniper not getting enough credit for its switching business, success in the cloud vertical, opex management, and balance sheet flexibility,” BMO said. “Juniper is trading near the bottom of its historical multiple range, and we expect the stock to work as the company gets more credit for its growth and improving fundamentals.”