Adtran price target raised to $18 from $14 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Adtran (ADTN) to $18 from $14 and keeps an Outperform rating on the shares following “a slightly better than expected” Q1 report and guidance that featured continued strong growth in Optical Networking and an improved outlook for Fiber Access in both the U.S. and Europe.