Wells Fargo downgrades Acme Packet (APKT -14.8%) to Market Perform on account of its Q2 warning,...

|About: Acme Packet, Inc. (APKT)|By:, SA News Editor

Wells Fargo downgrades Acme Packet (APKT -14.8%) to Market Perform on account of its Q2 warning, while lowering its valuation range to $14-$17. Near-term visibility is limited given difficult telecom capex and enterprise IT spending environments, the firm notes, and a string of warnings and downward estimate revisions is likely to pressure Acme's valuation.