UPDATE: Jefferies Raises PT to $21 on Allot Communications

Jefferies maintains its Buy rating on Allot Communications

and raises its price target by $1 to $21 on strong results for the fourth quarter. Jefferies says, "Despite overall carrier capex weakness and Sandvine weakness in Q4, Allot results beat our estimates and consensus while also seeing a ramp in deferred revenues and a book-to-bill >1x. We believe Allot's combined optimization and monetization abilities are allowing them to gain share." ALLT closed at $17.96 a share on Tuesday.