Market Overview

UPDATE: Jefferies & Company Downgrades ADTRAN to Underperform, Lowers PT

Related ADTN
A&T To Cut 2015 Cap Ex 14%; Shares Of Suppliers Sink
UPDATE: ADTRAN Q3 Profit Tops Street View

In a report published Friday, Jefferies & Company downgraded its rating on ADTRAN (NASDAQ: ADTN) from Hold to Underperform, and lowered its price target from $21.00 to $17.25.

Jefferies noted, “The business faces numerous headwinds that will, in our opinion, make it difficult for Adtran to meet current expectations for 2013. We think the Street is missing; 1) potentially significant declines in Adtran's market share at CenturyLink and Frontier; 2) the degree to which the HDSL business can still decline (even from current levels); and 3) the degree to which carriers are applying incremental pressure on legacy-, copper-, and TDM-based capital spending.”

ADTRAN closed on Thursday at $20.60.

Latest Ratings for ADTN

DateFirmActionFromTo
Oct 2014Goldman SachsAssumesBuy
Oct 2014JP MorganMaintainsNeutral
Jul 2014MKM PartnersMaintainsNeutral

View More Analyst Ratings for ADTN
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (ADTN)

Around the Web, We're Loving...

Get Benzinga's Newsletters