Needham raised the firm’s price target on Adtran (ADTN) to $18 from $14 and keeps a Buy rating on the shares. The firm expects the company to report a “modest” Q1 beat on along with a minor raise to Q2 guidance relative to consensus. Adtran is seeing strength in its optical networking solutions business, both domestically and internationally, the analyst tells investors in a research note. Needham believes the company’s recent win with Italy’s tier 1 operator FiberCop should drive meaningful European new growth.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADTN:
- Adtran announces ProRail deployed its ALM in-service fiber monitoring solution
- Adtran launches Ensemble Cloudlet multi-node solution
- Adtran Shifts Executive Pay Toward Earnings-Based Performance Metrics
- Adtran extends edge routing portfolio with Terabit-class edge routers
- Adtran management to meet with B. Riley