UPDATE: Citigroup Upgrades ADTRAN to Neutral; Execution Removes Bear Case
Posted on January 17, 2013 at 09:31 AM EST
Citigroup upgraded ADTRAN (NASDAQ: ADTN ) from Sell to Neutral and raised the price target from $12.50 to $23.00. Citigroup said, "Although we still have longer-term concerns regarding growth, broadband access spending is likely to be at least flat to up in 2013 and the incremental data points/news flow for