Raymond James analyst Tavis McCourt downgraded BroadSoft (BSFT) to Outperform from Strong Buy following the acquisition announcement by Cisco (CSCO) for $55/share in cash. The analyst raised BroadSoft's price target to $55, in line with the Cisco bid, and believes it will be a floor in shares and but rates the stock an Outperform based on the strategic value of Broadsoft as an asset and the possibility of a competitive bid. McCourt said in an August 31 report the most likely strategic bidders for Broadsoft included private equity, Cisco, Nokia (NOK), and Ericssson (ERIC).