Juniper Networks, Inc.(NYSE:JNPR) is looking into the sale of its Junos Pulse mobile security business, Reuters reported, citing unnamed sources.
The move follows pressure from activist investor Elliott Management Corp to restructure and focus on the network communications company’s core businesses.
Shares of JNPR have been weak of late, down almost 6% in five days. Contributing to selling pressure was news from Thursday that some of their products contain the “Heartbleed” bug which means hackers might be able to capture usernames, passwords and other sensitive information.
JNPR is down 1.2% at $24.39 in midday Tuesday trading. Shares trade in the upper half of a 52-week price range of $15.62 – $28.75 per share.
Analysts have a consensus price target of $28 on Juniper Networks, Inc.(NYSE:JNPR) which indicates a 13% upside. The consensus rating of the stock is a BUY with a score of 2.52. There are currently 13 Hold ratings, 1 Sell rating and 14 Buy ratings and 1 Strong Buy on the stock.
A recent analyst action consisted of SunTrust initiating coverage on April 10th with a $30 price target on the stock.
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