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Fly News Breaks for September 12, 2018
ADTN
Sep 12, 2018 | 15:33 EDT
MKM Partners analyst Michael Genovese reiterated a Buy rating on Adtran, raised his price target on shares to $22 from $21, and raised his Q3 revenue estimate by $2M to $148M, his Q4 revenue estimate by $6M to $143M, and his FY19 revenue forecast by 3% to $598M. Genovese said he was increasingly bullish on Adtran as MKM's check indicated that Adtran appears to be seeing broad-based demand improvement across its domestic and international markets.
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