Jefferies raised the firm’s price target on Adtran (ADTN) to $9 from $6.50 and keeps a Buy rating on the shares after the company reported quarterly results. It feels like Adtran is about to turn a corner on business fundamentals, as cost controls and cash flow generation are gaining momentum, the analyst tells investors in a research note. The firm added that the excess customer inventory situation is “just about done,” adding that it likes the stock given scorched-earth expectations, cost-cutting, and low valuations.
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Read More on ADTN:
- Adtran Reports Q3 Revenue Growth and Positive Outlook
- Adtran reports preliminary Q3 EPS (5c), consensus (4c)
- Adtran sees Q4 revenue $230M-$245M, consensus $238.87M
- Adtran announces METAS deployment of OSA 3300 HP
- ADTN Earnings this Week: How Will it Perform?
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