Wedbush Downgrades Acme Packet (APKT) to Neutral; We See Further Risks from Weak SP Business
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Price: $29.24 --0%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 8
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 8
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Wedbush downgraded Acme Packet (NASDAQ: APKT) from Outperform to Neutral, price target slashed from $45 to $26.
Wedbush analyst says, "Our downgrade is based upon on the following factors: 1) In our view, there remains risk to estimates going forward. 2) Large win with AT&T (NYSE: T) appears unlikely to offset broad-based weakness in the overall business. 3) We see significant evidence that growth in the session border controller market is slowing beyond our expectations due to uncertainty in the service provider business. 4) Finally, management’s credibility has been damaged given two consecutive quarters of missing guidance."
"We lowered our 2012 revenue and EPS estimates to $377mn and $1.29 from $410mn and $1.43, respectively."
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 $31.81 yesterday.
Wedbush analyst says, "Our downgrade is based upon on the following factors: 1) In our view, there remains risk to estimates going forward. 2) Large win with AT&T (NYSE: T) appears unlikely to offset broad-based weakness in the overall business. 3) We see significant evidence that growth in the session border controller market is slowing beyond our expectations due to uncertainty in the service provider business. 4) Finally, management’s credibility has been damaged given two consecutive quarters of missing guidance."
"We lowered our 2012 revenue and EPS estimates to $377mn and $1.29 from $410mn and $1.43, respectively."
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 $31.81 yesterday.
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