Adtran's business is steady. However, much work remains to be done on margins.
We are increasing our fair value estimate for Adtran to $16 from $15, based on Morningstar’s belief that a U.S. corporate tax reform is expected to settle on a 25% federal tax rate. We are also incorporating a 10% repatriation tax on overseas cash (approximately $42 million for Adtran). The company positions itself as a low-cost alternative to Nokia (Alcatel Lucent) and Cisco. This strategy resonates well with Tier 1 communication-service providers as they avoid a vendor lock-in. Alternatively, ...ADTRAN is a provider of networking and communications equipment. The company's solutions and services enable voice, data, video and internet communications across a variety of network infrastructures. The company has two segments: Network Solutions, which provides solutions supporting fiber-, copper- and coaxial-based infrastructures and a number of wireless solutions, lowering the overall cost to deploy services across a range of applications for Carrier and Cable/multiple-service operator networks; and Services and Support, which provides turn-key suit of services to help operators accelerate deployment of their networks including planning, engineering, construction, installation, test, and turn-up.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.