ADC Telecom (ADCT) – Bull of the Day
Source: http://www.zacks.com/commentary/11226/ADC+Telecom+%28ADCT%29+-+Bull+of+the+DayPosted on Wednesday, June 17th, 2009 | In Market Commentary, Stocks to Watch
We upgrade our rating to Buy for ADC Telecommunications (ADCT), a leading telecom network infrastructure and connectivity solutions provider. In addition to reporting second quarter fiscal 2009 financial results (ending May 1) well above our expectations, ADCT is likely to improve operating performance as large telecom carriers in the U.S. increase spending for fiber-based networks.
Massive deployment in China for home-grown 3G networking technology and backhaul provides high-growth revenue-generating opportunities for ADCT. Furthermore, management initiated restructuring activities, including headcount reductions, improving the company s earnings power and adding liquidity to its balance sheet.
The current valuation level at a discount of approximately 50% from the 52-week high range is considered more favorable from a longer-term investment perspective.Zacks Investment Research
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