Piper Jaffray Reiterates Overweight on Polycom

Piper Jaffray released its report today on Polycom (NASDAQ: PLCM) reiterating its Overweight rating on PLCM.

In a note to clients, Piper Jaffray writes, "We think the set up for PLCM shares looks interesting with strong demand, ramping product cycles (mainly infrastructure), better channel relationships, several strategic partnerships gaining momentum and a compelling valuation. We believe 2011 will be a solid year for unified collaboration technologies and this bodes extremely well for Polycom. We are reiterating our Overweight rating on PLCM shares and raising our price target to $44 from $35."

PLCM closed yesterday at $38.91.