Jefferies Maintains Hold on ADTRAN (ADTN) Following Q1 Results, Cuts Estimates
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Price: $22.67 -0.35%
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade ADTN Now!
Jefferies lifted its price target on ADTRAN (NASDAQ: ADTN) from $29.75 to $34, but lowered estiamtes and reiterated its Hold rating following Q1 results that were in-line with pre-announced results.
"The results don't change our larger concerns surrounding the pending acquisition of the NSN Broadband business," the firm said. "We continue to believe the risk/reward in the stock is evenly balanced."
Q2 EPS goes from $0.54 to $0.39M FY12 EPS goes from $1.88 to $1.66 and FY13 goes from $2.20 to $2.10.
For an analyst ratings summary and ratings history on ADTRAN click here. For more ratings news on ADTRAN click here.
Shares of ADTRAN closed at $30.73 yesterday, with a 52 week range of $25.46-$43.86.
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"The results don't change our larger concerns surrounding the pending acquisition of the NSN Broadband business," the firm said. "We continue to believe the risk/reward in the stock is evenly balanced."
Q2 EPS goes from $0.54 to $0.39M FY12 EPS goes from $1.88 to $1.66 and FY13 goes from $2.20 to $2.10.
For an analyst ratings summary and ratings history on ADTRAN click here. For more ratings news on ADTRAN click here.
Shares of ADTRAN closed at $30.73 yesterday, with a 52 week range of $25.46-$43.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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