Jefferies maintains its Buy rating on Allot Communications ALLT and raises its price target by $1 to $21 on strong results for the fourth quarter.
Jefferies says, "Despite overall carrier capex weakness and Sandvine weakness in Q4, Allot results beat our estimates and consensus while also seeing a ramp in deferred revenues and a book-to-bill >1x. We believe Allot's combined optimization and monetization abilities are allowing them to gain share."
ALLT closed at $17.96 a share on Tuesday.
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