CSCO - Acacia gains after analysts raise targets post prelim earnings Cisco deal news

Acacia Communications (ACIA) rose 3.9% after Rosenblatt reinitiated coverage of the stock after last week's decision by Acacia to terminate its deal with Cisco (CSCO) and following preliminary earnings last night.Rosenblatt analyst Ryan Koontz boosted PT to $110 from $70, writing that he sees good rationale for ACIA to unwind deal given ``much higher'' valuation multiples over the past 18 months; also says looking looming CSCO deal may have had some ``negative impacts'' on design win competitions over past year and a halfSeparately, Northland analyst Tim Savageaux raised Acacia PT to $90 from $65Recall, Acacia Communications standalone value $95-$110/share, Needham says

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Acacia gains after analysts raise targets post prelim earnings, Cisco deal news