Jefferies Upgrades ADTRAN (ADTN) to Buy; Risk/Reward Compelling
Tweet
Share
E-mailGet Alerts ADTN Hot Sheet
Price: $7.73 -1.65%
Rating Summary:
12 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies upgraded ADTRAN (NASDAQ: ADTN) from Hold to Buy, price target lowered by $2 to $36.
Jefferies analyst said, "Given the recent stock weakness and the reduction in expectations, we now find the risk/reward compelling. Historically, we’ve found that temporary capex softness at carriers like AT&T (NYSE: T) and Verizon (NYSE: VZ) provided good opportunities for investors to buy the shares. This is one of those times."
"We’re raising our 2012 revenue and EPS estimates. Frankly, our prior assumptions were too low. They didn’t fully reflect likely outcomes from Broadband Stimulus, Telmex, AT&T, and BlueSocket for next year. For 2012, we’re now looking for $780 million and $2.35, versus our prior $732 million and $2.15 estimates, respectively."
For more ratings news on ADTRAN click here and for the rating history of ADTRAN click here.
Shares of ADTRAN closed at $30.31 yesterday.
Jefferies analyst said, "Given the recent stock weakness and the reduction in expectations, we now find the risk/reward compelling. Historically, we’ve found that temporary capex softness at carriers like AT&T (NYSE: T) and Verizon (NYSE: VZ) provided good opportunities for investors to buy the shares. This is one of those times."
"We’re raising our 2012 revenue and EPS estimates. Frankly, our prior assumptions were too low. They didn’t fully reflect likely outcomes from Broadband Stimulus, Telmex, AT&T, and BlueSocket for next year. For 2012, we’re now looking for $780 million and $2.35, versus our prior $732 million and $2.15 estimates, respectively."
For more ratings news on ADTRAN click here and for the rating history of ADTRAN click here.
Shares of ADTRAN closed at $30.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wells Fargo Upgrades Portland General Electric Company (POR) to Overweight
- Jefferies Upgrades Mirvac Group (MGR:AU) (MRVGF) to Buy
- Bernstein remains bullish on SpaceX but sees challenges in telecom ambitions
Create E-mail Alert Related Categories
UpgradesRelated 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!
