JPMorgan analyst Samik Chatterjee removed Juniper Networks from the firm’s Analyst Focus List but keeps an Overweight rating on the name. The analyst says demand weakness is spreading to the service provider vertical where the company-specific drivers for Juniper to completely sidestep the moderation are more limited than the enterprise vertical where the company has more share gain momentum. While Juniper is now more diversified, which will limit magnitude of headwinds, JPMorgan is now cautious relative to limited upside in 2023 despite a drawdown of backlog, the analyst tells investors in a research note.
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