Auriga Starts ADTRAN (ADTN) at Hold; Near-Term Concerns vs. Long-Term Opportunity
Get Alerts ADTN Hot Sheet
Price: $4.69 -0.85%
Rating Summary:
8 Buy, 13 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
8 Buy, 13 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Auriga initiates coverage on ADTRAN (NASDAQ: ADTN) with a Hold. PT $34.00.
Analyst, Kevin Dade, said, "We would likely recommend investors get more aggressive if the shares were to fall modestly, especially after the company has made some initial progress integrating the Nokia Siemens (NYSE: NOK) broadband access business acquisition, which is expected to close on May 4. We are impressed with the company's accomplished history of sales and earnings growth, integration of new technologies, and growing exposure to deployment-related service revenue, but fears surrounding the impending Nokia Siemens deal leave us apprehensive about nearer-term financial performance. An unsettled environment at the moment... ADTRAN's largest customer base at roughly 80% of sales, carriers, appears to be in the doldrums lately despite broader thinking that it could improve near-term...but, otherwise, favorable trends in mobile network migration to data-focused networks."
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 $29.73 yesterday.
Analyst, Kevin Dade, said, "We would likely recommend investors get more aggressive if the shares were to fall modestly, especially after the company has made some initial progress integrating the Nokia Siemens (NYSE: NOK) broadband access business acquisition, which is expected to close on May 4. We are impressed with the company's accomplished history of sales and earnings growth, integration of new technologies, and growing exposure to deployment-related service revenue, but fears surrounding the impending Nokia Siemens deal leave us apprehensive about nearer-term financial performance. An unsettled environment at the moment... ADTRAN's largest customer base at roughly 80% of sales, carriers, appears to be in the doldrums lately despite broader thinking that it could improve near-term...but, otherwise, favorable trends in mobile network migration to data-focused networks."
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 $29.73 yesterday.
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