UPDATE: Citigroup Reiterates on Juniper Networks Following IOP Announcement

In a report published Friday, Citigroup analyst Ehud Gelblum reiterated a Neutral rating on Juniper Networks (NYSE: JNPR), and raised the price target from $27.00 to $28.00.

In the report, Citigroup noted, “Thurs after the close, Juniper announced new CEO Shaygan Kheradpir's much anticipated Integrated Operating Plan (IOP), in response to the ‘Value Plan' activist investor Elliott Management proposed in mid-January. We expected the announcement before Juniper's Board nomination period closes on Feb 23.”

Juniper Networks closed on Thursday at $27.41.