Northland Securities Remains a Hold on Adtran Inc (ADTN)

By Austin Angelo

In a report released today, Tim Savageaux from Northland Securities maintained a Hold rating on Adtran Inc (ADTNResearch Report), with a price target of $10.00. The company’s shares closed last Monday at $8.88, close to its 52-week low of $8.09.

According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 2.2% and a 49.5% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.

The word on The Street in general, suggests a Hold analyst consensus rating for Adtran Inc with a $10.50 average price target, representing a 21.7% upside. In a report released today, MKM Partners also downgraded the stock to Hold with a $11.00 price target.

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The company has a one-year high of $18.40 and a one-year low of $8.09. Currently, Adtran Inc has an average volume of 324.6K.

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ADTRAN, Inc. engages in the provision of networking and communications equipment. It operates through the Network Solutions and Services and Support business segment. The Network Solutions segment includes hardware products and next-generation virtualized solutions used in service provider or business networks, as well as prior-generation products.