Jefferies Upgrades Allot Communications (ALLT) to Buy, Sees Verizon Ramping

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Jefferies upgraded Allot Communications (NASDAQ: ALLT) from Hold to Buy with a price target of $30.00 (from $26.00).

"We believe Verizon (NYSE: VZ) will soon begin ramping as a customer and we think the most likely timeline is for initial orders in Q4 and revenues in 2013," analyst Peter Misek said. "Our 2013 EPS estimates are Street high as we expect continued strong demand for Allot's products due to their high ROI in a short time frame and carriers' need to fully monetize their extensive LTE investments."

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 $24.83 yesterday, with a 52 week range of $10.75-$29.05.

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