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Fly News Breaks for February 4, 2016
ADTN
Feb 4, 2016 | 06:19 EDT
Cowen analyst Paul Silverstein upgraded ADTRAN to Market Perform and increased his price target to $16 from $14 on shares. The analyst's checks confirm that AT&T (T) has selected ADTAN for AT&T's G.Fast broadband access build-out project, and checks indicate the company is the only vendor selected by AT&T for the Outside Network Unit and Distribution Point Unit functions of the project. Silverstein raised CY17 and CY18 estimates above consensus and said relative risk/reward is balanced at current levels.
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