UPDATE: Jefferies Downgrades Acme Packet to Hold

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Jefferies downgrades Acme Packet (NASDAQ: APKT) from a Buy to a Hold rating and decreases its price target from $40 to $21.Jefferies comments, “While we still view many aspects of the Acme Packet story very favorably, we're concerned that near-term hesitation by N. American carriers to invest in the Wireline portions of their networks will make it difficult for Acme to hit Street expectations in H2'12. We're downgrading Acme Packet to Hold from Buy.”APKT closed at $21.91 on Tuesday.

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