By: Benzinga
December 14, 2012 at 13:52 PM EST
UPDATE: JP Morgan Initiates ADTRAN at Neutral; Too Early to Call Bottom on Core Business
JP Morgan initiated coverage on ADTRAN (NASDAQ: ADTN ) with a Neutral rating and a $19 price target. JP Morgan noted, "While ADTRAN could benefit from FTTx and fiber access spending in 2013 we are concerned that the company's core businesses continue to decline. We also note that the
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