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Fly News Breaks for April 23, 2015
T, ADTN
Apr 23, 2015 | 05:31 EDT
Goldman Sachs downgraded ADTRAN (ADTN) to Neutral after the company said on its Q1 earnings call that its deployment with AT&T (T) has been fully cancelled. Goldman expected the AT&T business to drive revenue and earnings reacceleration. It cut its price target for ADTRAN shares to $18 from $26.
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