Wunderlich Reiterates Rating on NetScout Systems

Wunderlich has published a report on NetScout Systems

. In the report, Wunderlich wrote, "NetScout Systems (

) reported 1Q12 in line with the negative pre-announcement on July 4. Though bookings performance was troubling, management contends that much of the company's project pipeline is still active, especially in the government vertical. In financial services, weakness is attributed to the effect of budget tightening on deal size, which management indicates is down about 15% yr./yr. Despite this daunting backdrop, management commentary suggests sequential growth this quarter in the mid-to-high single-digit percentage range. We will wait and see. Our Hold rating and target are unchanged." Wunderlich rated NetScout Systems a Hold with a price target of $18.00. NetScout Systems closed Thursday at $15.50.