Jefferies Lifts PT on Sonus Networks (SONS) After Checks, Sees 19% Upside

Jefferies reiterated a Buy rating on Sonus Networks, Inc. (NASDAQ: SONS) and raised their price target from $3.50 to $4.25 following positive checks. The new price target suggests 19% upside to Friday's close.

"Our checks continue to suggest Sonus is likely to continue to gain share in the SBC market," analyst James Kisner said. "We expect a solid Q2 report and Q3 guide, but have some concerns about a pull-back near-term given the recent run-up in the stock."

For an analyst ratings summary and ratings history on Sonus Networks, Inc. click here. For more ratings news on Sonus Networks, Inc. click here.

Shares of Sonus Networks, Inc. closed at $3.57 yesterday.

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