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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100