Wells Fargo Starts Acme Packet (APKT) at Outperform; Well Positioned with Key Customers

Wells Fargo initiates coverage on Acme Packet (NASDAQ: APKT) with an Outperform. PT range $45-$50.

Wells analyst says, "Our positive view is based on Acme Packet's leadership position in the session border controller (SBC) market, which is expected to deliver 30+% growth over the next few years as carrier and enterprise customers transition from legacy circuit-switched voice architectures to IP-based multimedia platforms. While macro concerns and a premium valuation could cause near-term volatility in Acme Packet shares, we view current levels as an attractive entry point for longer-term growth investors. We initiate 2011, 2012, and 2013 EPS estimates of $1.13, $1.45, and $1.87."

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 $32.79 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Recurrent Energy closes $695M financing for California solar project
• ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)