Adtran price target raised to $14 from $12 at Needham

Needham raised the firm’s price target on Adtran (ADTN) to $14 from $12 and keeps a Buy rating on the shares. Management remains confident in steadily expanding operating margin via revenue growth while holding operating expenses and gross margin steady, the analyst tells investors in a research note. The firm added that it raised its price target as the company’s balance sheet is less concerning, a successful FY25 recovery in is the books, and the firm has greater confidence in its FY26 outlook.