Pac Crest's Brent Bracelin cuts his targets for several networking stocks (JNPR, RVBD, FFIV, APKT, ARUN, and UBNT) on worries about forex issues and legnthening sales cycles (Cisco has already discussed the latter). Bracelin sees IT hardware stocks in general nearing trough valuations as news flow stays negative for the next month, through the start of earnings season. However, he's expecting a rebound in late summer or fall.
Juniper (Nasdaq: JNPR) from $24 to $20;
Riverbed (Nasdaq: RVBD) from $34 to $27;
F5 Networks (Nasdaq: FFIV) from $153 to $145;
Acme Packet (Nasdaq: APKT) from $38 to $31;
Aruba Networks (Nasdaq: ARUN) from $30 to $22; and
Ubiquiti Networks (Nasdaq: UBNT) from $36 to $27.
Juniper (Nasdaq: JNPR) from $24 to $20;
Riverbed (Nasdaq: RVBD) from $34 to $27;
F5 Networks (Nasdaq: FFIV) from $153 to $145;
Acme Packet (Nasdaq: APKT) from $38 to $31;
Aruba Networks (Nasdaq: ARUN) from $30 to $22; and
Ubiquiti Networks (Nasdaq: UBNT) from $36 to $27.
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