ADTRAN (ADTN) PT Raised to $15 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the price target on ADTRAN (NASDAQ: ADTN) to $15.00 (from $10.00) while maintaining a Buy rating.

The analyst commented: "We are increasing our ADTN price target to $15, based on 1.1x EV-to-2026 sales. This compares to the group mean of 3.8x and median of 2.5x (range 1.1x to 15.6x). While the $15 target is 30x our current 2026 EPS estimate, we think there is an elevated probability that Adtran can do better than modeled forecasts and grow into the valuation on a P/E basis. Currently, the group's 2026 price-to-earnings mean/median multiples are 24.5x/22.5x with a range of 11.7x to 45.4x."

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Bernstein SocGen Group Starts Cipher Mining (CIFR) at Outperform
• Goldman Sachs Upgrades Plains All American (PAA) to Neutral