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UPDATE: Pacific Crest Initiates Coverage On Sonus Networks

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Pacific Crest released a note Monday in which analyst Ryan Hutchinson initiated coverage on Sonus Networks (NASDAQ: SONS) with an Outperform rating and a $6 price target.

Hutchinson says there may be as much as 50 percent upside to Sonus Networks as the company has successfully transitioned to an all-IP infrastructure vendor. He added that Sonus is likely to see double-digit revenue growth in 2014 and should capture a meaningful share of a rapidly growing market.

Shares of Sonus Networks are up over three percent in Monday's pre-market.

Latest Ratings for SONS

DateFirmActionFromTo
Aug 2014Barrington ResearchUpgradesMarket PerformOutperform
Jul 2014Pacific CrestInitiates Coverage onOutperform
Apr 2014William BlairInitiates Coverage onOutperform

View More Analyst Ratings for SONS
View the Latest Analyst Ratings

Posted-In: Pacific Crest Ryan HutchinsonAnalyst Color Price Target Initiation Analyst Ratings

 

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