Juniper (JNPR) Sees $66 Billion Market in 3 years

At a financial analysts meeting, Juniper Chief Financial Officer Robyn Denholm Juniper Networks (NYSE:JNPR) market should increase by over 60 percent over the next three years, reaching to about $66 billion. It stood at $41 billion as of 2010.

Denholm said new products like its QFabric data center systems will lead the way to the larger market the company will serve.

She maintained her guidance of revenue growth for years ahead to continue at a 20 percent annual rate, or possibly more.

Juniper has also been targeting major competitors like Cisco Systems Inc (NASDAQ:CSCO) with new offerings for corporate data centers as well as mobile security systems.

"We have large and growing addressable markets, and more importantly, we're investing and entering new markets," Denholm said.

When queried about the weak margins Cisco experience from its attempt to gain market share, Denholm said Juniper won't participate in pricing wars to gain share.

She said the company should be able to enjoy gross margins of 66 to 68 percent over the long term.

Juniper closed Thursday at $43.76, gaining $0.55, or 1.27 percent.