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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100