BofA/Merrill Lynch Downgrades Allot Communications (ALLT) Two-Nothces to Underperform on Weakening Fundamentals

BofA/Merrill Lynch downgraded Allot Communications (NASDAQ: ALLT) from Buy to Underperform with a price target of $10.50 (from $17.00).

Analyst Tal Liani said they have concerns over Allot’s key fundamentals, weak carrier spending, uncertainty surrounding Title 2 reform in the US and recent management departures.

The firm is reducing FY2014/2015 revenue estimates from $118/$136mn to $117/$128mn and EPS from $0.32/$0.56 to $0.30/$0.46.

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 $9.04 yesterday.

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