Adtran unlikely to win AT&T U-Verse business, says Jefferies Jefferies believes AT&T (T) will soon select a vendor for equipment used to upgrade the old Fiber-to-the-Curb, or FTTC, infrastructure that was deployed in the heritage BellSouth territory. The firm estimates the opportunity at $50M over two-to-three years and thinks Adtran has a less than 25% chance of winning the business. Further, Jefferies thinks issues of carrier capital spending trends and potential market share losses are not fully priced into shares of Adtran. The firm keeps an Underperform rating on the stock with a $13.25 price target.
UBS to hold a conference Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link