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

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.
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