Adtran tumbles 11.7% as CenturyLink pause spurs target cuts [telecom]

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By Jason Aycock

Adtran has slipped 11.7%, shaving $100M in market cap, after price target cuts at Goldman Sachs and Northland after CenturyLink decided to temporarily pause an upgrade to its last-mile copper network.

Shares are currently at $16.65.

Goldman (Neutral on the stock) has trimmed its target to $16 from $17; it points to low visibility on the CenturyLink issue but says the business could return "potentially as early as 1Q18."