J.P. Morgan Reiterates Neutral Rating on Tellabs
In a report published Monday, J.P. Morgan reiterated its Neutral rating on Tellabs (NASDAQ: TLAB).
J.P. Morgan noted, “Tellabs remains a stock for most investors to avoid, in our view, as it finds itself unable to generate much momentum on new products. If the company remains unable to find its feet with newer products we believe earnings are likely to continue to deteriorate. Having said this management is doing a good job controlling costs and the cash position is holding steady. This buys Tellabs time but, so far, time has only served to erode revenues. On a positive note we do believe that better carrier spending may lift all boats in 2013 and could act as a tailwind for TLAB stock. We reiterate our Neutral rating.”
Tellabs closed on Friday at $2.11.
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