In addition to downgrading Cisco, JPMorgan is upgrading (I, II) Juniper (JNPR +3.3%) and...
Thursday, January 17, 9:36 AM ETIn addition to downgrading Cisco, JPMorgan is upgrading (I, II) Juniper (JNPR +3.3%) and Infinera (INFN +6.6%) to Overweight. The firm sees improving 2013 carrier capex, new routers, stock buybacks, and "a proactive focus on operating leverage" aiding Juniper, which is about to partly upend its business model in an effort to embrace software-defined networking. Infinera is expected to benefit from rising demand for 100G optical gear and its high-end DTN-X system, which now has 5 tier-1 carrier clients. Separately, Infinera discloses sales chief Ronald Martin is leaving, while assuring investors there's no change to 2012 guidance.
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