Needham & Company Maintains a 'Buy' on Acme Packet (APKT); While Uncertainty Reigns Near-Term, Maintain Thesis on Longer-Term Secular Story
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Price: $29.24 --0%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 11
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 11
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Needham & Company maintains a 'Buy' on Acme Packet (NASDAQ: APKT) price target cut from $52 to $30.
Needham analyst says, "Following over 2 solid years of beat and raise performances, Acme has now missed 2 quarters in row, with its most recent miss--attributed to broad-based NA service provider weakness--seeming to cast significant doubt on the company’s near-term growth outlook. While acknowledging the troubling nature of the back-to back misses, as well the substantial uncertainty/risk likely to still exist around 2012 outlook heading into the company’s formal 4Q11 call on February 2, for now we retain our Buy rating based on: 1) our continued belief that SBC remains one of the best secular growth areas in comm. equipment with the next major leg of growth expected to be VoLTE in late 2012/2013; and 2) our belief that Acme’s competitive position remains unchanged."
"Our 2012 estimates go to $346MM/$1.11 NG EPS from $400MM/$1.45 NG EPS; our 2013 estimates go to $410MM/$1.40 NG EPS from $500MM/$1.88."
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.
Needham analyst says, "Following over 2 solid years of beat and raise performances, Acme has now missed 2 quarters in row, with its most recent miss--attributed to broad-based NA service provider weakness--seeming to cast significant doubt on the company’s near-term growth outlook. While acknowledging the troubling nature of the back-to back misses, as well the substantial uncertainty/risk likely to still exist around 2012 outlook heading into the company’s formal 4Q11 call on February 2, for now we retain our Buy rating based on: 1) our continued belief that SBC remains one of the best secular growth areas in comm. equipment with the next major leg of growth expected to be VoLTE in late 2012/2013; and 2) our belief that Acme’s competitive position remains unchanged."
"Our 2012 estimates go to $346MM/$1.11 NG EPS from $400MM/$1.45 NG EPS; our 2013 estimates go to $410MM/$1.40 NG EPS from $500MM/$1.88."
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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