Wedbush Upgrades Allot Communications (ALLT) to Outperform

June 26, 2013 7:12 AM EDT
Get Alerts ALLT Hot Sheet
Price: $1.32 -0.75%

Rating Summary:
    5 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 20 | New: 31
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Wedbush upgraded Allot Communications (NASDAQ: ALLT) from Neutral to Outperform with a price target of $17.00 (from $15.00).

Analyst Sanjit Singh said "Our upgrade is based on signs that bookings, most notably Europe but also in North America, appear to be improving; valuation appears attractive given long term growth prospects of 20%+, and follow on opportunities with the company’s strategic accounts should help sustain the recovery in sales from the company’s recent lows."

"Based on our discussion with our channel contacts, we think the environment remains challenging overall; however, penetration of the company’s large customers is improving and we believe Allot is well-positioned to secure additional follow-on orders in upcoming quarters," he added.

For an analyst ratings summary and ratings history on Allot Communications click here. For more ratings news on Allot Communications click here.

Shares of Allot Communications closed at $13.38 yesterday.

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