Needham Maintains Buy on Adtran, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Ryan Koontz maintains a 'Buy' rating on Adtran (NASDAQ:ADTN) but has lowered the price target from $12 to $9.
November 08, 2023 | 1:14 pm
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Adtran's price target has been lowered from $12 to $9 by Needham, though the 'Buy' rating is maintained.
The lowering of the price target by Needham could potentially lead to a short-term decrease in Adtran's stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company's stock, which could mitigate some of the negative impact.
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IMPORTANCE 80
RELEVANCE 100