Adtran downgraded to Underperform from Hold at Jefferies Jefferies downgraded Adtran to Underperform on concerns the company will have a difficult time meeting 2013 expectations. The firm believes expectations are not factoring in the potential for significant declines in Adtran’s market share at CenturyLink and Frontier. Jefferies lowered its price target for shares to $17.25 from $21.
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