Jefferies Lifts Numbers on Allot Communications (ALLT) After Q1, Keeps Hold

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Jefferies boosted estimates and its price target on Allot Communications (NASDAQ: ALLT) from $25 to $28 following stronger than expected Q1 results.

The firm comments, "Robust Q1 revenues of +10% Q/Q dramatically outperformed expectations (St/JEF -3%), typical telco equipment seasonality, and the recent weakness seen by most telco equipment companies. This demonstrates the continued secular drivers behind deep packet inspection equipment and related value-added services like video optimization; however, we still see the valuation as full as our $28 target (from $25) represents 42x 2012 EPS."

Q2 EPS goes from $0.13 to $0.17 and FY12 from $0.60 to $0.67.

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 $26.30 yesterday, with a 52 week range of $9.38-$26.92.

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