Juniper’s New CTO a Reason for Hope, Says Raymond James

Juniper’s New CTO a Reason for Hope, Says Raymond James 553 369 C-Suite Network

Shares of networking equipment vendor Juniper Networks (JNPR) are up 23 cents, or 0.8%, at $29.46, after Raymond James’s Simon Leopold this morning raised his rating on the stock to Outperform from Market perform, just days before the company’s Q2 report this coming Tuesday, July 25th, based on what he thinks is “an underappreciated pivot.”

Leopold already has an Outperform on Juniper competitor Cisco Systems (CSCO), and he rates Arista Networks (ANET) Market Perform.

That pivot is the move to cloud computing customers, writes Leopold.

And he takes as a key point the naming on Tuesday of a newchief technology officer, Bikash Koley:

Juniper named Bikash Koley as its new CTO. We are intrigued because his resume aligns well with Juniper’s forward looking strategy of pivoting towards the cloud, faster growth, and…