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.
>To contact the writer of this article, click here: Michael Baron.
>To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV