Deutsche Bank Lowers Price Target on Acme Packet (APKT); Short-Term Pain, Long-Term Gain
Get Alerts APKT Hot Sheet
Price: $29.24 --0%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Deutsche Bank maintains a 'Hold' on Acme Packet (NASDAQ: APKT) price target of $18.00 (from $23.00).
Deutsche analyst said, "Acme negatively pre-announced before market open today (revised Q2 outlook: $66m -$68m / $0.12- $0.14) noting continued near-term weakness in the North American carrier market. The pre-announcement is consistent with our caution on a moderate growth year for Acme."
Deutsche Bank's research suggests that Acme is seeing strength in enterprise SBC's, but competition is growing from the likes of Cisco (Nasdaq: CSCO). Overall, Deutsche Bank is cautious near-term, they remain constructive to longer-term SBC opportunities in VoIP and IMS. The next catalyst for shares may be the rollout of VoLTE - a 2014 (and beyond) opportunity.
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 $18.40 yesterday.
Deutsche analyst said, "Acme negatively pre-announced before market open today (revised Q2 outlook: $66m -$68m / $0.12- $0.14) noting continued near-term weakness in the North American carrier market. The pre-announcement is consistent with our caution on a moderate growth year for Acme."
Deutsche Bank's research suggests that Acme is seeing strength in enterprise SBC's, but competition is growing from the likes of Cisco (Nasdaq: CSCO). Overall, Deutsche Bank is cautious near-term, they remain constructive to longer-term SBC opportunities in VoIP and IMS. The next catalyst for shares may be the rollout of VoLTE - a 2014 (and beyond) opportunity.
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 $18.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading
- Uber Inc. (UBER) PT Raised to $96 at Tigress Financial Partners
- American International Group (AIG) PT Raised to $89 at Piper Sandler
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT ChangeRelated Entities
Deutsche BankSign 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!