Weekly Investment Analysts’ Ratings Changes for ADTRAN (ADTN)
ADTRAN (NASDAQ: ADTN) received a number of price target changes and ratings updates during the last week:
- ADTRAN was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $17.00 price target on the stock.
- ADTRAN was downgraded by analysts at Barclays Capital from an “equal weight” rating to an “underweight” rating. They now have a $13.00 price target on the stock, down previously from $18.00.
- ADTRAN was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $12.50 price target on the stock. They wrote, “We believe two of Adtran’s traditionally largest customers, one of which includes AT&T, have either already completed the builds they were going to do with Adtran or are about to, creating large holes in Adtran’s revenue line, while a 3rd, namely the Qwest side of CenturyLink, could begin to do the same next year. The falloff at its two largest customers we believe is likely what is behind the significant Q3 miss and equally weak Q4 guidance, and we do not believe those revs return next year.”
- ADTRAN was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating. They now have a $25.00 price target on the stock, up previously from $21.00.
- ADTRAN had its price target lowered by analysts at Mizuho from $17.00 to $10.00. They now have an “underperform” rating on the stock.
- ADTRAN ‘s EPS estimates were cut by analysts at Jefferies Group. They now have an “underperform” rating and a $13.25 price target on the stock.
ADTRAN, Inc. opened at 15.84 on Friday. ADTRAN, Inc. has a 52-week low of $15.56 and a 52-week high of $38.95. The company has a market cap of $999.0 million and a price-to-earnings ratio of 13.53.
ADTRAN, Inc. designs, manufactures and markets solutions and provides services and support for communications networks.