Sonus rallies following FBR coverage launch; AudioCodes also higher


FBR's Scott Thompson has started coverage on Sonus (SONS +4.6%) with a Buy and $4 PT. He praises the company's efforts to expand into the fast-growing session border controller (SBC) and (courtesy of its recent deal to acquire Performance Technologies) the 4G diameter signaling software markets, and thereby lower its exposure to a declining VoIP media gateway business.

Thompson also observes Sonus is gradually transitioning its VoIP media gateway products to "a more software-focused, and potentially less hardware-focused, platform."

SBC rival AudioCodes (AUDC +5.3%) is also sharply higher.

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