Kaufman Bros. Starts Acme Packet (APKT) at Buy; Undisputed Lead in Critical SBC Market

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July 29, 2011 7:09 AM EDT
Get Alerts APKT Hot Sheet
Price: $29.24 --0%

Rating Summary:
    3 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Kaufman Bros. initiates coverage on Acme Packet (NASDAQ: APKT) with a Buy. PT $75.00.

Kaufman analyst says, "APKT shares are off over 24% from their April 29, 2011, high of $84.50 and currently trade at ~38.0x our 2012 pro forma EPS estimate of $1.52 and at an EV/Sales 2012 multiple of approximately 9.0x, more in line with its software-centric peers. The pullback presents investors with an attractive entry point, in our opinion. APKT shares have traditionally traded at a significant premium to the group, and we believe that shares deserve a premium multiple given the company's growth and profitability profile."

For more ratings news on Acme Packet click here and for the rating history of Acme Packet click here.

Shares of Acme Packet closed at $58.44 yesterday.

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