Deutsche Bank Downgrades Acme Packet (APKT) to Hold; Near-term Growth Caution; Carrier Businesses are Lumpy
APKT Hot Sheet
Rating Summary:10 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Deutsche Bank downgraded Acme Packet (NASDAQ: APKT) from Buy to Hold, price target lowered from $50 to $30.
Deutsche analyst says, "Despite our positive view on the market, carrier roll-out schedules are hard to predict. We think this will lead to further uncertainty over the next 2-3 quarters as carriers globally set the course for the year. This clouds our outlook for the company's numbers in that period. We see potential catalysts as the company gains traction among carriers globally, with the next milestone likely to come around Mobile World Congress in late February. Given this pace, we are lowering our estimates to reflect slower growth, particularly in 1H12."
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 $31.81 yesterday, with a 52 week range of $29.25-$84.50.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
Deutsche analyst says, "Despite our positive view on the market, carrier roll-out schedules are hard to predict. We think this will lead to further uncertainty over the next 2-3 quarters as carriers globally set the course for the year. This clouds our outlook for the company's numbers in that period. We see potential catalysts as the company gains traction among carriers globally, with the next milestone likely to come around Mobile World Congress in late February. Given this pace, we are lowering our estimates to reflect slower growth, particularly in 1H12."
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 $31.81 yesterday, with a 52 week range of $29.25-$84.50.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
- Acme Packet Dramatically Simplifies SIP Trunking Implementations
- Bouygues Telecom Selects Acme Packet for IMS Network
Create E-mail Alert Related Categories
DowngradesRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
