Raymond James analyst Simon Leopold upgraded Juniper to Outperform with a $34 price target based on favorable risk/reward and an underappreciated "pivot" in the business. Leopold believes new CTO Bikash Koley's previous experience at Google suggests he understands the cloud and hyper-scale and how web 2.0 companies think and aligns well with Juniper's forward looking strategy of "pivoting" towards the cloud, faster growth, and software. He believes Juniper's customer mix trends are sustainable in favor of the faster growing cloud market and notes Juniper has among the highest percent of sales from the cloud and highest dollar value at over 25% of sales.