Morgan Keegan Maintains Market Perform on ADTRAN

Morgan Keegan is out with its report today on ADTRAN

, maintaining Market Perform. In a note to clients, Morgan Keegan writes, "We maintain our Market Perform rating on ADTRAN; the strength in the growth areas continue to offset the weakness in legacy, which, from an investor perspective, is exactly what we look for. We expect estimates rise following the conference call and believe strength continues to be broad-based and not just government stimulus." Morgan Keegan maintains a $44 PT on ADTN. At the time of posting, shares of ADTN were trading pre-market at $42.20, up 5.16% from Tuesday's close.