B. Riley analyst Dave Kang initiated coverage of Adtran (ADTN) with a Buy rating and $16 price target The firm says Adtran is a leading provider of broadband network equipment, serving a diverse customer base including service providers, utilities, and municipalities. Recent industry data indicates that demand has recovered, and Adtran is positioned to capitalize on the current cycle with its access and optical businesses, the analyst tells investors in a research note.
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