Rodman & Renshaw Comments on AudioCodes

Rodman & Renshaw provided color on AudioCodes (NASDAQ: AUDC) in a research report published today. Rodman & Renshaw has a $6 price target and Market Outperform rating on AudioCodes.

In the report, Rodman & Renshaw states, "While we believe the company is set for bumpy ride, we remain optimistic on the overall growth story of AUDC given the new product launches in mobile VoIP and E-SBC, coupled with new revenue streams from partnerships. Tighter cost controls should drive the profitability."

Shares of AudioCodes closed today at $3.14, down 12.04% from Monday's market close.