Jan 13 Juniper Networks Inc shareholder
Elliott Management Corp urged the network equipment maker to buy
back shares, streamline its product line and cut costs to boost
Elliott, which owns 6.2 percent of Juniper, said the company
should repurchase $3.5 billion of shares.
"We believe these value initiatives can collectively result
in a stock price of $35-$40 per share," Elliott said in a
Juniper shares rose about 6 percent to $24.94 in premarket
trading on Monday.
(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb