UPDATE: Jefferies Upgrades Allot Communications to Buy on Broader Opportunities
Jefferies raised its rating on Allot Communications (NASDAQ: ALLT) Hold to Buy and increased its price target from $26 to $30.
Jefferies said, "We believe Verizon will soon begin ramping as a customer and we think the most likely timeline is for initial orders in Q4 and revenues in 2013. Our 2013 EPS estimates are Street high as we expect continued strong demand for Allot's products due to their high ROI in a short time frame and carriers' need to fully monetize their extensive LTE investments"
Allot Communications closed at $24.83 on Monday.
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