From Earlier: Goldman Sachs Lowers Acme Packet PT
Goldman Sachs decreased its Acme Packet (NASDAQ: APKT) price target from $27 to $17 in a research report published today.
In the report, Goldman Sachs stated, "Acme Packet's comment that North American service provider capex continues to be weak does not bode well for our other exposed companies and we continue to expect estimate cuts from others in the group. Companies in our coverage with the most direct negative read-across from weak N.A. carrier capex include Adtran, BroadSoft, Calix, Infinera, Juniper, and Tellabs."
Shares of Acme Packet closed Friday at $15.74, down 14.46 percent from Thursday's market close. At the time of posting, shares recovered slightly, trading up 1.37 percent at $15.96.
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Tags: Goldman Sachs