Investing.com — Adtran (NASDAQ:), a communications tools producer, noticed a ten% rise in its shares after Craig-Hallum initiated protection of the corporate with a purchase score.
The agency additionally set a worth goal of $15 for Adtran’s shares, citing an anticipated enhance in buyer spending within the coming years.
Craig-Hallum analyst Christian Schwab talked about in a analysis word on Wednesday that Adtran is well-positioned to realize from ongoing buyer initiatives to shift away from Chinese language distributors, akin to Huawei.
Schwab additionally famous that the corporate’s efforts to cut back prices are anticipated to boost its working leverage.
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