Jefferies Maintains Hold on ADTRAN (ADTN)

Jefferies is out with its report today on ADTRAN

, maintaining Hold. In a note to clients, Jefferies writes, "Adtran's business will continue to benefit from strength in wireless backhaul, the TA 5000, Internetworking, and Broadband Stimulus. Nonetheless, we think the risk/reward is balanced as the shares largely reflect the strong fundamentals in the business." Jefferies has a $42 PT on ADTN. At the time of posting, shares of ADTN were trading pre-market at $44.00, up 5.77% from Tuesday's close.