UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Sonus Networks Ahead of Q2 Report

In a report published Monday, Jefferies analyst James Kisner reiterated a Buy rating on

, and raised the price target from $3.50 to $4.25. In the report, Jefferies noted, “Our checks continue to suggest Sonus is likely to continue to gain share in the SBC market. We expect a solid Q2 report and Q3 guide, but have some concerns about a pull-back near-term given the recent run-up in the stock.” Sonus Networks closed on Friday at $3.57.