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Technology Stocks : ADTRAN !?!
ADTN 8.670-1.0%Dec 29 3:59 PM EST
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To: TelecosmFan who wrote (558)10/10/1997 3:06:00 PM
From: Don Dodge   of 766
 
Adtran is a very strong company in a rapidly growing market. They are one of the largest telecom equipment companies in the industry. Take a look at the press releases (use the +News button) over the past few months. GTE, Bell South, and Bell Atlantic have all commited to using Adtran gear for ISDN and HDSL. The telcos take a long time to choose a vendor, but once they do the revenue streams are enormous.

Adtran is also introducing new products. On 9/24 they announced the ATLAS 800 for consolidating voice, data, and video switching. On 10/3 they announced the Intelligent IQ series for Frame Relay. These are important growing markets.

The stock has had a nice run up this summer as a result of these announcements but it is still well under its 52 week high of $53. The current P/E (47) exceeds its growth rate (28) but I suspect the growth rate and earnings will increase in the next few quarters to bring it in line. I believe there is enormous upside in this stock and this industry in general.

The analysts are generally positive with 4 rating ADTN a strong buy, 2 a moderate buy, and 4 a hold. I am long the stock and looking for long term gains. This is not a flashy internet stock that generates a lot of interest and hype. This is a solid long term company. The shorts would be better off playing the volatile internet hyped stocks.

Don
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