Analyst Michael Ng initiated coverage of Juniper Networks with a buy rating.
Investors should look beyond near-term headwinds to see the within Juniper Networks ' enterprise business, according to Goldman Sachs. Analyst Michael Ng initiated coverage of the network hardware stock with a buy rating. Ng set a price target of $39, which implies an upside of 24.5% from where the stock closed Monday. He said the stock will have near-term challenges related to budget scrutiny and tough comparable periods that will be hard to replicate.
Analyst Michael Ng initiated coverage of the network hardware stock with a buy rating. Ng set a price target of $39, which implies an upside of 24.5% from where the stock closed Monday. He said the stock will have near-term challenges related to budget scrutiny and tough comparable periods that will be hard to replicate. A key debate is also swirling on whether future growth will come from new subscribers or from the company working through its backlog — which was built up as a result of supply chain and logistics challenges that drove up lead times. The company's 2022 backlog was higher than pre-pandemic levels at more than $2 billion.
But the 2023 backlog should ease as a result of the supply chain working itself out and slowed growth in new orders. Despite the potential for lost revenue due to backlog churn and the chill on new orders, Ng said the company will benefit from a focus on its enterprise business. Ng said the cloud-ready data center will benefit from secular trends in 400G adoption, hybrid multi-cloud and software-based network management tools. Juniper's recent efforts to increase its enterprise sales and improve relationships with channel partners should also help the company, he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Apple stock can rise over 30%: Goldman Sachs initiates first Buy since 2017For the first time since 2017, Goldman Sachs has initiated first Buy on Apple since 2017 after saying shares could climb as high as 36% in 2023.
Read more »
Apple stock will soar 32% over the next year, Goldman Sachs saysGoldman Sachs says Apple stock will soar 32% over the next year with the market currently underestimating the stickiness of its product ecosystem
Read more »
These four cities could see double-digit home price drops: Goldman SachsData from the investment bank shows that out of the 25 largest metropolitan areas in the U.S., four cities are grappling with an oversupply, signaling a bumpy forecast ahead. While overall housing inventory still remains tight, these four cities are seeing more for sale homes now than in January 2020. By the fourth quarter of 2024, the firm expects home prices to fall 19% in Austin, 16% in Phoenix, 15% in San Francisco, and 12% in Seattle.
Read more »
Goldman Sachs has added 3 stocks to its conviction buy list, giving one 100% upsideFrom tech to commodities, Goldman Sachs' additions to its list of top stocks have major upside potential.
Read more »
Goldman Sachs says Apple can rally more than 30% thanks to its services businessAnalyst Michael Ng initiated coverage of the big technology stock with a buy rating and a price target of $199, implying upside of nearly 32%.
Read more »
Apple’s stock surges again after Goldman says to buy, citing nearly 30% upside potentialApple's stock rallied toward a third straight gain after a Goldman analyst recommended that investors buy, given the stock's nearly 30% upside.
Read more »