Jefferies Boosts Price Target on Acme Packet, Inc. (APKT)
Tweet
Share
E-mailGet 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: 11 | New: 14
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Jefferies analysts updated their price target on Acme Packet, Inc. (NASDAQ: APKT) raising it by $5 to $40 from $35, while reiterating their BUY rating.
Acme Packet is a communications equipment and software company. Their first quarter results were in line with expectations and full year guidance was unchanged. Jefferies analysts were encouraged by the company’s commentary that Acme’s pipeline of business is growing and they are seeing signs that spending will pick up in the back half of the year.
Acme Packet shares trade at 17x 2012 EPS (ex-cash). The new price target applies a 2013 P/E multiple of 27x. Jefferies analysts stated, “We believe this premium is justified given Acme's greater long-term growth prospects and relatively higher potential to beat Street expectations.”
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.
Acme Packet is a communications equipment and software company. Their first quarter results were in line with expectations and full year guidance was unchanged. Jefferies analysts were encouraged by the company’s commentary that Acme’s pipeline of business is growing and they are seeing signs that spending will pick up in the back half of the year.
Acme Packet shares trade at 17x 2012 EPS (ex-cash). The new price target applies a 2013 P/E multiple of 27x. Jefferies analysts stated, “We believe this premium is justified given Acme's greater long-term growth prospects and relatively higher potential to beat Street expectations.”
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Upgrades Bharat Forge Ltd. (BHFC:IN) to Buy
- Jefferies Downgrades Enphase Energy (ENPH) to Hold, 'Still Muddling Through'
- PZ Cussons PLC (PZC:LN) PT Lowered to GBP1.50 at JPMorgan
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
