Kaufman Bros. Starts Tellabs (TLAB) at Hold; Q2 Disappointed Street, However, Int'l Revenue Up 70%
Tweet
Share
E-mailGet Alerts TLAB Hot Sheet
Price: $2.44 --0%
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Kaufman Bros. initiates coverage on Tellabs (NASDAQ: TLAB) with a Hold. PT $5.00.
Kaufman analyst says, "Our HOLD rating is based on: 1) TLAB is challenged by product transition issues; and 2) legacy infrastructure levels are declining, while growth product segments have not gained meaningful traction...As anticipated, TLAB's 2Q11 results disappointed the Street. However, international revenue was up 70% Y/Y, and a record 61% of total revenue came from growth products. That said, guidance for 3Q11 was mildly encouraging...We believe that TLAB's risk/reward profile is more likely to improve than not going forward, allowing investors to take a fresh look at the story."
For more ratings news on Tellabs click here and for the rating history of Tellabs click here.
Shares of Tellabs closed at $4.04 yesterday.
Kaufman analyst says, "Our HOLD rating is based on: 1) TLAB is challenged by product transition issues; and 2) legacy infrastructure levels are declining, while growth product segments have not gained meaningful traction...As anticipated, TLAB's 2Q11 results disappointed the Street. However, international revenue was up 70% Y/Y, and a record 61% of total revenue came from growth products. That said, guidance for 3Q11 was mildly encouraging...We believe that TLAB's risk/reward profile is more likely to improve than not going forward, allowing investors to take a fresh look at the story."
For more ratings news on Tellabs click here and for the rating history of Tellabs click here.
Shares of Tellabs closed at $4.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
- JPMorgan Assumes salesforce.com (CRM) at Overweight, 'Overblown Concerns'
- Alliance Global Partners Starts Momentus (MNTS) at Buy
Create E-mail Alert Related Categories
New CoverageRelated Entities
Kaufman Bros.Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
