Barclays Maintains an 'Equalweight' on Tellabs (TLAB); International Improving, but Not Fast Enough

Barclays maintains an 'Equalweight' on Tellabs (NASDAQ: TLAB) price target of $5.00.

Barclays analyst says, "Our EPS rises as opex cuts offset meaningfully lower sales: Despite lower sales, our 2011/12 EPS rise to ($0.03)/$0.09 from ($0.06)/$0.02. TLAB announced a $50mn opex reduction, which adds ~$0.10 to EPS but is only partially offset by lower sales. We think international growth, rather than cost reductions, are key to restoring margins meaningfully above break-even."

Kvaal Call: International momentum - key to Tellabs' recovery path -is improving, but visibility remains low.

For more ratings news on Tellabs click here and for the rating history of Tellabs click here.

Shares of Tellabs closed at $4.65 yesterday.

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