Deutsche Bank Lowers Price Target on Acme Packet (APKT); Short-Term Pain, Long-Term Gain
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Price: $29.24 --0%
Rating Summary:
6 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade APKT Now!
Deutsche Bank maintains a 'Hold' on Acme Packet (NASDAQ: APKT) price target of $18.00 (from $23.00).
Deutsche analyst said, "Acme negatively pre-announced before market open today (revised Q2 outlook: $66m -$68m / $0.12- $0.14) noting continued near-term weakness in the North American carrier market. The pre-announcement is consistent with our caution on a moderate growth year for Acme."
Deutsche Bank's research suggests that Acme is seeing strength in enterprise SBC's, but competition is growing from the likes of Cisco (Nasdaq: CSCO). Overall, Deutsche Bank is cautious near-term, they remain constructive to longer-term SBC opportunities in VoIP and IMS. The next catalyst for shares may be the rollout of VoLTE - a 2014 (and beyond) opportunity.
For an analyst ratings summary and ratings history on Acme Packet click here. For more ratings news on Acme Packet click here.
Shares of Acme Packet closed at $18.40 yesterday, with a 52 week range of $17.18-$75.17.
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Deutsche analyst said, "Acme negatively pre-announced before market open today (revised Q2 outlook: $66m -$68m / $0.12- $0.14) noting continued near-term weakness in the North American carrier market. The pre-announcement is consistent with our caution on a moderate growth year for Acme."
Deutsche Bank's research suggests that Acme is seeing strength in enterprise SBC's, but competition is growing from the likes of Cisco (Nasdaq: CSCO). Overall, Deutsche Bank is cautious near-term, they remain constructive to longer-term SBC opportunities in VoIP and IMS. The next catalyst for shares may be the rollout of VoLTE - a 2014 (and beyond) opportunity.
For an analyst ratings summary and ratings history on Acme Packet click here. For more ratings news on Acme Packet click here.
Shares of Acme Packet closed at $18.40 yesterday, with a 52 week range of $17.18-$75.17.
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