Juniper (JNPR) Possible Buyout Target

While the market remains shaky, it seems like the best place to invest right now is in technology. Especially with the recent numbers reported by sector leaders such as Cisco (CSCO).

As leaders start to crawl out of the rubble, more companies will start to be bought up. So its time to look for some possible buyout targets before its too late. Barron’s top 10 tech targets.

One stock I like is Juniper (JNPR). You can kind of think of it as the little brother to Cisco. The stock got a recent boost on an upgrade from Oppenheimer.

“We expect carrier spending on IP routing to recover in 2010, and return to double-digit year-over-year growth patterns thereafter,” Oppenheimer analyst Ittai Kidron.

Besides being a possible buyout opportunity, the chart doesn’t look too bad as well… given the condition it can get up and stay above 50 day moving average. If not, then we can wait for the stock to pullback to enter into it at a lower price.

Granted this is not the usual big banger I normally look at it. Remember that we are looking for a possible buyout here.

If everything goes as planned, the initial price target is $29 followed by a push higher from there.