UBS Maintains a 'Buy' on ADTRAN (ADTN); Sloppy Q2

July 11, 2012 12:27 PM EDT Send to a Friend
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Price: $21.25 +1.63%

Rating Summary:
    5 Buy, 15 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 44 | New: 4
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UBS maintains a 'Buy' on ADTRAN (NASDAQ: ADTN) price target of $35.00.

Analyst, Nikos Theodosopoulos, sticking with his rating, said ADTN reported EPS and revenues below consensus. GAAP earnings were $0.33 and Non-GAAP EPS was $0.38 vs. consensus of $0.35. However, ADTRAN reports Q2 EPS of $0.56/0.59 for the same period last year. Another reason shares may be down significantly today is reported net income, which fell from $36.94M (last year) to $21.07M (current qtr).

Also, ADTRAN's CEO said that results reflect a tightening spending environment, which investors may be interpreting as guiding lower. Shares are down $4.26 (-15.67%) today to $22.93.

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 $27.19 yesterday.


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