UPDATE: Goldman Sachs Downgrades Adtran to Sell

By Steven Anfield
Benzinga Staff Writer
December 06, 2011 8:37 AM

Symbols: ADTN

Posted in: Analyst Color, Downgrades, Analyst Ratings

According to Goldman Sachs, Adtran (NASDAQ: ADTN) is downgraded to Sell.

Goldman Sachs said that it is downgrading Adtran to Sell from Neutral, with 14% downside to its $29, 12-month price target. “There is no change to our estimates or to our 12-month price target of $29, based on 14X our CY2012 EPS estimate of $2.07.”

Adtran closed yesterday at $33.83.

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UPDATE: Goldman Sachs Downgrades Adtran to Sell

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