APKT Beats Q4 Expectations, Raises Guidance

Analyst Edward Jackson of Cantor Fitzgerald maintains his "buy" rating on Acme Packet Inc (NASDAQ: APKT), while raising his estimates for the company. The target price for APKT has been raised from $13 to $15.

Acme Packet has reported better than expected results for Q4 2009 and increased its guidance for FY2010. The analyst believes that APKT “dominates the SBC market and is exceptionally well positioned to benefit from the adoption of this technology by both service providers and enterprises.”

APKT “continues to maintain a strong balance sheet,” according to Cantor Fitzgerald. Cantor Fitzgerald has raised its EPS estimates for FY2010 and FY2011 from $0.43 to $0.45 and from $0.54 to $0.58, respectively.

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