Ahead of the Bell: Juniper climbs premarket on 1Q results

NEW YORK—Shares of Juniper Networks Inc. climbed in premarket trading Friday, a day after the network provider said its first-quarter profit climbed 66 percent.

Juniper shares added 97 cents, or 3.8 percent, to $26.70. On Thursday, the company reported adjusted earnings of 27 cents per share in the first quarter, 2 cents higher than analysts were expecting, according to a poll by Thomson Financial.

In a research note, Stifel Nicolaus analyst Sanjiv Wadhwani reiterated his "Buy" rating on the Sunnyvale, Calif., company, which he said beat his estimates by 2 cents per share.

Wadhwani was particularly upbeat on the company's routing business, which he said "continues to deliver."

Separately, Thomas Weisel analyst Jason Ader said in a client note that "router sales (are) still on fire," and raised his 2008 earnings forecast by 3 cents to $1.14 per share. He maintained his "Market Weight" rating.

Analysts polled by Thomson Financial expect Juniper to earn $1.13 in 2008.

Shares of Juniper have traded between $20.77 and $37.95 in the past 52 weeks.