Barclays Maintains an 'Overweight' on Acme Packet (APKT); Moving Ahead of Setbacks

Barclays maintains an 'Overweight' on Acme Packet (NASDAQ: APKT) price target raised from $33 to $35.

Analyst, Jeff Kvaal, said, "Following a string of setbacks, 1Q12 sales of $71M were in line if not slightly better than expectations. Reaffirmed guidance for 10% 2012 sales growth embeds caution on carrier spending as visibility has not changed near term. Management does expect a sharp 2H12 ramp as spending accelerates."

FY12 EPS estimate lowered from $1.02 to $0.98 and FY13 maintained at $1.39.

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 $28.22 yesterday.

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