Adtran downgraded to Hold at Argus on dividend pause and weak demand

As previously reported, Argus analyst Jim Kelleher downgraded Adtran to Hold from Buy after Adtran posted Q3 revenue that missed guidance and the “formerly high-yielding company” paused its dividend as part of a restructuring program. Slower spending by mid-tier and large service providers seen in Q3 is likely to persist in the medium term, the analyst tells investors.