UPDATE: Wunderlich Securities Reiterates Buy Rating, Lowers PT on Sonus Networks, Inc. on Model Revision

In a report published Monday, Wunderlich Securities analyst Matthew S. Robison reiterated a Buy rating on

, but lowered the price target from $22.00 to $17.00. In the report, Wunderlich Securities noted, "Growth for Sonus (SONS) this year is expected to be driven at the high end from 7000 series session border controller (SBC) demand from large enterprises and service providers, but mostly in the out quarters. We view this to be a catalyst for market share to recover from lower-end gains by others. Recent selection by Huawei as an alternative to the Oracle (ORCL–NR) Acme Packet product line should also eventually help market share. Reduction of our growth forecast and estimates yields reduction of our price target to $17.00 from $22.00. With expectations for improving prospects when the market is ready for the company's high-end products, we are maintaining our Buy rating on SONS shares." Sonus Networks, Inc. closed on Friday at $14.44.