Brean Murray Assumes ADTRAN (ADTN) with a Hold
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Brean Murray assumes coverage on ADTRAN (NASDAQ: ADTN) with a Hold rating.
The firm said, "ADTRAN is exposed to several technology growth cycles, including Fixed-Mobile Convergence (Backhaul), TelcoTV (GPON), and IP access. While we are optimistic about the company’s new product opportunity, we think the current valuation reflects market fundamentals. A declining legacy business, coupled with our expectation of quarterly fluctuations in broadband product deployment, present increased risk, in our view."
ADTRAN, Inc. designs, develops, manufactures, markets, and services network access solutions that enable voice, data, video, and Internet communications for copper, fiber, and wireless networks in the United States.
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