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UPDATE: Citigroup Downgrades Adtran Technology; Lowers PT

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Cowen Upgrades ADTRAN, Sees Revenue Boost In Future From AT&T Deal
Earnings Scheduled For January 19, 2016
Adtran +4.5%; Cowen upgrades, likes AT&T deal and product mix changes (Seeking Alpha)

According to a research report published Thursday, Citigroup has downgraded Adtran Technology (NASDAQ: ADTN) from Buy to Neutral, and lowered PT from $35 to $25.

In the report, Citigroup said, "We upgraded Adtran in 2009 on our the view of a positive uptick in the government Broadband Stimulus spending coupled with a forward looking favorable outlook on broadband access equipment and enterprise networking spend. We are now downgrading Adtran shares to Neutral as we believe stimulus spending is likely to peak in 2013 while a challenging carrier and enterprise capex spending coupled with the risk of continued margin pressures (from the NSN integration) will weigh on investor sentiment in the near term."

Adtran Technology closed Wednesday at $23.01.

Latest Ratings for ADTN

DateFirmActionFromTo
Feb 2016Cowen & CompanyUpgradesUnderperformMarket Perform
Jan 2016NeedhamUpgradesHoldBuy
Jan 2016JefferiesMaintainsHold

View More Analyst Ratings for ADTN
View the Latest Analyst Ratings

Posted-In: CitiAnalyst Color Downgrades Price Target Analyst Ratings

 

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