Jefferies Lowers Price Target on Acme Packet (APKT)
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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: 26 | New: 12
Rating Summary:
6 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Trade APKT Now!
Jefferies lowered its price target on Hold-rated Acme Packet (NASDAQ: APKT) from $20.00 to $17.00 following last weeks profit warning.
The firm comments, "Acme Packet negatively pre-announced Q2 results, blaming slowness in N. American Service Provider spending, consistent with concerns highlighted in our 6/20 downgrade note. We’re lowering estimates to reflect new Q2 guidance and also providing some useful information to help investors evaluate the investment merits of APKT shares. While we remain positively biased longer-term, we’re inclined to remain on the sidelines at this point."
Q2 EPS was cut from $0.18 to $0.12, FY12 from $0.80 to $0.70 and FY13 from $1.10 to $0.90.
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 $15.74 yesterday, with a 52 week range of $15.44-$75.17.
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The firm comments, "Acme Packet negatively pre-announced Q2 results, blaming slowness in N. American Service Provider spending, consistent with concerns highlighted in our 6/20 downgrade note. We’re lowering estimates to reflect new Q2 guidance and also providing some useful information to help investors evaluate the investment merits of APKT shares. While we remain positively biased longer-term, we’re inclined to remain on the sidelines at this point."
Q2 EPS was cut from $0.18 to $0.12, FY12 from $0.80 to $0.70 and FY13 from $1.10 to $0.90.
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 $15.74 yesterday, with a 52 week range of $15.44-$75.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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