Jefferies Reiterates Underperform Rating, $13.25 PT on ADTRAN on Negative Risk/Reward Trade-Off

In a report published Friday, Jefferies reiterated its Underperform rating and $13.25 price target on ADTRAN (NASDAQ: ADTN ). Jefferies noted, “We continue to believe the risk/reward trade-off is negative. Looking into next year, we believe that Adtran faces myriad headwinds including carrier capital spending trends and potential market share