UPDATE: Deutsche Bank Downgrades Acme Packet to Hold

Deutsche Bank has downgraded Acme Packet

from Buy to Hold and has lowered the price target from $50 to $30 in a research report out last evening. In the report, Deutsche Bank writes, "Acme negatively pre-announced tonight. They noted weak demand from North American carriers, and we believe pockets of softness in Asia as well. We still think the SBC opportunity is meaningful; the next growth catalyst likely from VoLTE rollouts at Verizon etc." Shares of Acme Packet are trading at $25.42, down 20.10% from yesterday's close.