Bank of America Merrill Lynch Maintains Allot Communications Buy
Bank of America Merrill Lynch maintained its Allot Communications (NASDAQ: ALLT) Buy rating and commented on Allot's sell-off in a research report published today.
In the report, Bank of America Merrill Lynch states, "This morning an article on Bloomberg news suggested that Allot's DPI (deep packet inspection) equipment may have been unlawfully distributed to Iran through Rantek, a Danish distributor. The stock is down ~5% on the news. Allot issued a press release which confirmed our view that many of the facts may have been taken out of context. We believe the sell-off is unwarranted and maintain our Buy on the stock."
Shares of Allot Communications were trading at $15.74 at the time of posting, down 5.69% from Thursday's market close.
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