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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (19451)	1/3/2003 8:31:05 AM
From: Techplayer	Read Replies (1) \| Respond to of 57110

Interesting downgrade... 08:24 ET ADTRAN cut to Hold at Needham despite upward guidance (ADTN) 33.53: -- Update -- Needham downgrades to HOLD from Buy on valuation. Although co issued guidance last night that was significantly ahead of estimates, recent price appreciation has pushed ADTN well above firm's $25 price target (which Needham is now upping to $33). With the stock trading close to the $33 level, firm finds "no legal alternative but to downgrade this excellent company from Buy to Hold." Stock trading at $34.73 in pre-market.