Montgomery Securities Initiates Coverage of ADTRAN, Inc. with a BUY Rating.
SAN FRANCISCO--(BUSINESS WIRE)--Feb. 1, 1996--Montgomery Securities Analyst Chris Crespi has initiated coverage of ADTRAN, Inc. (Nasdaq: ADTN ADTN Administrative Data Transmission Network
ADTN Administrative Data Telecommunications Network ) with a BUY rating. Crespi expects the company to earn $0.97 per share in Fiscal Year (December) 1996. His target price is $42, or 58% above current levels.
ADTRAN builds data-transport equipment that allows telecommunications carriers and their customers to facilitate digital data services over the existing copper telephone networks, also known as the "local loop." ADTRAN is a proven leader in the area of data transport in the local loop and has brought respect and attention to this entire business segment by posting solid financial performance.
The company's product line can be separated into three distinct segments: DDS (1) (Digital Data Storage) See DAT.
(2) (Data Dictionary System) See QuickBuild and OpenDDS.
(3) (Dataphone Digital S (Digital Data Service); ISDN ISDN
in full Integrated Services Digital Network
Digital telecommunications network that operates over standard copper telephone wires or other media. (Integrated Services Digital Network Integrated services digital network (ISDN)
A generic term referring to the integration of communications services transported over digital facilities such as wire pairs, coaxial cables, optical fibers, microwave radio, and satellites. ); and HDSL (High bit-rate Digital Subscriber Line (communications, protocol) High bit-rate Digital Subscriber Line - (HDSL) A form of Digital Subscriber Line, providing T1 or E1 connections over two or three twisted-pair copper lines, respectively. ). Crespi's BUY rating is based on ADTRAN's dominance in the ISDN telco equipment market and the rapid growth expected in both the ISDN BRI (Basic Rate Interface) and the HDSL markets in 1996.
CONTACT: Montgomery Securities
Christopher J. Crespi, 415/627-2147
Elizabeth Snowdon, 415/627-2747