ADTRAN shares are trading lower after the company reported mixed Q3 financial results and issued Q4 revenue guidance below estimates. Following earnings, Rosenblatt downgraded the stock from Buy to Neutral and lowered its price target from $11 to $7.
Portfolio Pulse from Benzinga Newsdesk
ADTRAN reported mixed Q3 results and issued Q4 revenue guidance below estimates. Rosenblatt downgraded the stock from Buy to Neutral and lowered its price target from $11 to $7.
November 07, 2023 | 5:32 pm
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NEGATIVE IMPACT
ADTRAN's mixed Q3 results and lower Q4 revenue guidance, along with Rosenblatt's downgrade, may negatively impact the stock.
ADTRAN's mixed Q3 results and lower than expected Q4 revenue guidance indicate potential financial instability. Additionally, Rosenblatt's downgrade from Buy to Neutral and lowered price target from $11 to $7 suggest a less optimistic outlook for the company's stock, which could lead to a decrease in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100