Salomon Upgrades Juniper to Outperform

Third-quarter results and comments from management lead analyst Alexander Henderson to believe Juniper may have bottomed operationally

Salomon Smith Barney upgrades Juniper Network (JNPR ) to outperform from neutral. Analyst Alexander Henderson says that third-quarter results were well above estimates. Despite recent appreciation in shares, he says third-quarter results and commentary from management lead him to believe the company may have bottomed operationally and that there is more upside than downside to earnings estimates risk. He thinks the company can grow 35% over the next three to five years as data networking traffic continues to expand.

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