PE of 13, a PEG of 1.20, and it pays a yield of 2.2%.

Adtran (ADTN) was upgraded to Overweight, Thomas Weisel said. Company is emerging from a multi-year transition in its business, where new products are offsetting legacy items. $27 price target.

Sector Perform - Price 22.36 on Oct. 16
by Pacific Crest
Adtran [a provider of networking and communications equipment] reported Q3 revenue of $123.8 million, versus our estimate of $124.3 million, but in line with ADTN's preannounced guidance of sequentially flat. Reported EPS of 31 cents was 3 cents above our estimate and ADTN guidance. ADTN expects Q4 revenue to be down sequentially, but up over very weak 4Q06...Adtran shares are trading [above] 18 times our '08 EPS estimate...We prefer investments in the sector with stronger exposure to secular trends.

Adtran (ADTN) was upgraded from Sell to Neutral, Merrill Lynch said. Buybacks should support the stock in the near term, and business is poised to recover some time in 2008.

Downgraded by Cowen & Co from Outperform to Neutral

call it a hunch

Downgraded by Brean Murray from Hold to Sell

Local stock with good history and management

Downgraded by Morgan Keegan from Outperform to Mkt Perform

Downgraded by Lehman Brothers from Overweight to Equal-weight