Raymond James lowered the firm’s price target on Juniper to $35 from $37 and keeps an Outperform rating on the shares following a Q2 beat that was coupled with a Q3 forecast below expectations and a reduced full year outlook. The incremental challenge now also stems from slower cloud spending, with offsets from continued enterprise strength, says the firm, which continues to see Juniper as “a GARP play that can grow sales modestly in 2024.”
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