Acme Packet's Numbers Back Up Rally
Accordingly, some caution has crept into Wall Street's view of the stock with seven of the 16 analysts covering the shares at hold (6) or sell (1); although the majority still remain bullish at either strong buy (1) or buy (8). The 12-month median price target of $55, however, seems an acknowledgment that the shares may have a tough time rallying much higher from here.
Back on Jan. 25, the shares dipped down to $49.99, closing below $50 for the first time since Nov. 30 amid concerns about companies with any association to cloud computing. Tuesday's news looked to be giving a slight lift to competitors like Savvis (SVVS) and Internap Network Services (INAP); although volume in those names was scant.
Written by Michael Baron in New York.
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