Citi initiated coverage of Juniper with a Buy rating and $38 price target. The analyst initiated coverage of the communication equipment sector, saying equipment orders have stabilized after a sharp 30% quarter-over-quarter drop in the March quarter. Longer-term, big data continues to drive the need for higher network capacity with 100G for enterprises, 400G for Cloud, and 800G and beyond for artificial intelligence, the analyst tells investors in a research note. The firm likes Juniper’s enterprise AI appeal and gross margin expansion.
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