Rosenblatt Downgrades Adtran to Neutral, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Mike Genovese has downgraded Adtran (NASDAQ:ADTN) from Buy to Neutral and lowered the price target from $11 to $7.
November 07, 2023 | 1:25 pm
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Adtran's stock rating has been downgraded from Buy to Neutral by Rosenblatt, with a lowered price target from $11 to $7.
The downgrade from Buy to Neutral indicates a less optimistic outlook for the company's stock, which could lead to a decrease in demand and potentially a drop in the stock price. The lowered price target also suggests that the analyst believes the stock is currently overvalued, which could further discourage investment.
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IMPORTANCE 80
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