Needham & Company Maintains a 'Hold' on ADTRAN (ADTN); Level of Rebound Remains Unclear
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Price: $22.17 -2.55%
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ADTN Now!
Needham & Company maintains a 'Hold' on ADTRAN (NASDAQ: ADTN).
Analyst, Richard Valera, said, "We find recent concerns of a weak 1Q12 that had pressured ADTN shares to have been well founded, as the company pre-announced a 1Q miss of surprising magnitude. Although a significant portion of the miss was apparently due to timing/temporary issues, it remains too soon to call what level revenue will rebound to. Acknowledging the shares look inexpensive assuming revenue/earnings rebound to historical levels, given the uncertainty regarding the magnitude/timing of this rebound we maintain our rating."
Needham lowers FY12 EPS estimate fro $2.35 to $2.10 and FY13 from $2.61 to $2.58.
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 $30.60 yesterday, with a 52 week range of $25.46-$45.45.
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Analyst, Richard Valera, said, "We find recent concerns of a weak 1Q12 that had pressured ADTN shares to have been well founded, as the company pre-announced a 1Q miss of surprising magnitude. Although a significant portion of the miss was apparently due to timing/temporary issues, it remains too soon to call what level revenue will rebound to. Acknowledging the shares look inexpensive assuming revenue/earnings rebound to historical levels, given the uncertainty regarding the magnitude/timing of this rebound we maintain our rating."
Needham lowers FY12 EPS estimate fro $2.35 to $2.10 and FY13 from $2.61 to $2.58.
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 $30.60 yesterday, with a 52 week range of $25.46-$45.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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