Dec. 7 (Bloomberg) -- Allot Communications Ltd. rose the most in a week after RBC Capital Markets said the technology company may be an acquisition target.
The shares gained 5 percent, the most since Nov. 30, to 66.75 shekels, or the equivalent of $17.86, at 10:51 a.m. in Tel Aviv today. The U.S.-traded shares rose 4.7 percent to $17.73 yesterday.
“The company’s strong balance sheet should now be sufficient to adequately support strategic mergers and acquisitions that can broaden the company’s offering,” Daniel Meron, an analyst at RBC in Tel Aviv, wrote in an e-mailed report yesterday.
Allot shares will probably rise to $20 in the next 12 months, up from a previous estimate of $18, RBC said.
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