Citi resumed coverage of Juniper (JNPR) with a Neutral rating and $40 price target. Following the company’s Q3 results, the firm has updated its model, targeting the company’s sales to decline by 12% in FY24 but grow by 3% in FY25 against the Street estimates of a 10% decline and 4% growth respectively, the analyst tells investors in a research note. While Citi is positive on Juniper’s enterprise AI focus and opportunities for gross margin expansion, these attributes are overshadowed by the company’s likely acquisition by HP Enterprise (HPE), the firm added.
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