Needham & Company Maintains a 'Hold' on ADTRAN (ADTN); Level of Rebound Remains Unclear
Tweet
Share
E-mailGet Alerts ADTN Hot Sheet
Price: $8.40 +4.09%
Rating Summary:
12 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on ADTRAN (NASDAQ: ADTN).
Analyst, Richard Valera, said, "We find recent concerns of a weak 1Q12 that had pressured ADTN shares to have been well founded, as the company pre-announced a 1Q miss of surprising magnitude. Although a significant portion of the miss was apparently due to timing/temporary issues, it remains too soon to call what level revenue will rebound to. Acknowledging the shares look inexpensive assuming revenue/earnings rebound to historical levels, given the uncertainty regarding the magnitude/timing of this rebound we maintain our rating."
Needham lowers FY12 EPS estimate fro $2.35 to $2.10 and FY13 from $2.61 to $2.58.
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 $30.60 yesterday.
Analyst, Richard Valera, said, "We find recent concerns of a weak 1Q12 that had pressured ADTN shares to have been well founded, as the company pre-announced a 1Q miss of surprising magnitude. Although a significant portion of the miss was apparently due to timing/temporary issues, it remains too soon to call what level revenue will rebound to. Acknowledging the shares look inexpensive assuming revenue/earnings rebound to historical levels, given the uncertainty regarding the magnitude/timing of this rebound we maintain our rating."
Needham lowers FY12 EPS estimate fro $2.35 to $2.10 and FY13 from $2.61 to $2.58.
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 $30.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Diana Shipping drops bid for Genco after price demands spike to $36.91
- Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & Company, EarningsSign 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!
