Jefferies Maintains a 'Hold' on Tellabs (TLAB); Better-Than-Expected Q2

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July 30, 2012 12:47 PM EDT
Get 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
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Jefferies maintains a 'Hold' on Tellabs (NASDAQ: TLAB) price target of $3.75 (from $4.00).

Analyst, George C. Notter, said, "Tellabs reported Q2 results that were roughly in-line with expectations and provided Q3 guidance that was slightly below Street expectations. Given how soft the macro environment seems to be (especially for companies with significant amounts of legacy revenue) we had expected much worse."

Raises FY12 EPS estimate from (0.08) to (0.06) and FY13 from 0.00 to $0.05.

For an analyst ratings summary and ratings history on Tellabs click here. For more ratings news on Tellabs click here.

Shares of Tellabs closed at $3.33 yesterday.

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