Jefferies Downgrades Acme Packet (APKT) to Hold, Citing Near-Term Concerns

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Jefferies downgraded Acme Packet (NASDAQ: APKT) from Buy to Hold with a price target of $21.00 (from $40.00).

The firm comments, "While we still view many aspects of the Acme Packet story very favorably, we’re concerned that near-term hesitation by N. American carriers to invest in the Wireline portions of their networks will make it difficult for Acme to hit Street expectations in H2’12."

The firm cut FY12 EPS from 0.95 to $0.80 and FY13 from $1.30 to $1.10.

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 $21.91 yesterday, with a 52 week range of $20.76-$75.17.

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