Jefferies Slashes Estimates and Price Target on ADTRAN (ADTN) After Ugly Quarter; Don't Expect Same For Peers
Get Alerts ADTN Hot Sheet
Price: $5.44 +2.26%
Rating Summary:
8 Buy, 13 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
8 Buy, 13 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Jefferies maintains a 'Hold' on ADTRAN (NASDAQ: ADTN) price target of $21.00 (from $27.00).
Analyst, George C. Notter, said, "We knew the environment for Wireline equipment was really deteriorating but we were still surprised by how soft Adtran’s guidance was for Q3. Perhaps more importantly, we don’t necessarily think Adtran is a “canary in the coal mine” for every other equipment vendor. The company, in our view, is much more heavily exposed to those areas of Wireline spending that are faring the worst right now."
FY12 EPS estimate cut from $1.37 to $1.10 and revenues from $737M to $688.6M. FY13 revenue and EPS estimates go from $808.9 million and $1.90 to $720 million and $1.25.
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 $23.01 yesterday.
Analyst, George C. Notter, said, "We knew the environment for Wireline equipment was really deteriorating but we were still surprised by how soft Adtran’s guidance was for Q3. Perhaps more importantly, we don’t necessarily think Adtran is a “canary in the coal mine” for every other equipment vendor. The company, in our view, is much more heavily exposed to those areas of Wireline spending that are faring the worst right now."
FY12 EPS estimate cut from $1.37 to $1.10 and revenues from $737M to $688.6M. FY13 revenue and EPS estimates go from $808.9 million and $1.90 to $720 million and $1.25.
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 $23.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teleperformance (TEP:FP) (TLPFY) PT Lowered to EUR125 at RBC Capital, 'perceived risk profile makes it a no-fly zone for many investors'
- Cantor Fitzgerald Downgrades Caledonia Mining Corporation (CMCL) to Hold
- Estée Lauder (EL) climbs as BofA upgrades to Buy on profit recovery expectations
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign 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!