Needham & Company Defends Allot Communications (ALLT) Following Competitor Downgrade

Needham & Company analyst Alex Henderson came out to defend Allot Communications (NASDAQ: ALLT) following yesterday's downgrade by BofA/Merrill Lynch. The analyst reiterated a Buy rating and price target of $16.00.

Henderson said, "We hosted Allot Communication in southern California and came away more upbeat and confident in the outlook. Despite a competitor downgrade, ALLT is upbeat in its outlook, seeing a stronger pipeline of new business and bigger deal sizes, and expects to see a continuation of the trend of strong results. Management noted that they have seen no change in business conditions due to capex cuts or net neutrality and are seeing less of a hit from consolidation. In a nutshell, ALLT seems increasingly confident."

For an analyst ratings summary and ratings history on Allot Communications click here. For more ratings news on Allot Communications click here.

Shares of Allot Communications closed at $8.94 yesterday.

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