AudioCodes Falls on 'Sell' Rating

AudioCodes (AUDC Quote) was down 11.5% in late morning after hitting a 52-week low of $6.94. Prudential Securities downgraded it to sell from accumulate, cut earnings estimates and sliced its price target to $4.50 from $21.

Prudential noted that the Israeli Internet phone technology company faces delayed or cancelled orders from large and small customers in all regions. The stock is down from a 52-week high of $74.25.