Market Overview

UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on Allot Communications

Related ALLT
Equity Indeces Reverse Losses; Crude Oil Falls Hard
Rent-A-Center Shares Fall On Downbeat Forecast; Lorillard Surges

In a report published Wednesday, Jefferies reiterated its Buy rating on Allot Communications (NASDAQ: ALLT), but lowered its price target from $30.00 to $20.00.

Jefferies noted, “Against a backdrop widespread fears of a bad Q4, Allot delivered $28.5M/$0.14 (JEF $32.7M/$0.21, St $29.8M/$0.16). Q4 B:B was <1x due to European macro weakness, but the pipeline is bigger than it was at the beginning of 2012. We continue to see strong 2013 growth prospects but a dependence on large deals could lead to lumpiness.”

Allot Communications closed on Tuesday at $14.15.

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (ALLT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters