Tellabs Upgrade to Accumulate
On June - 9 - 2010
C.L. King analyst Lawrence Harris this morning raised his rating on Tellabs (TLAB) to Accumulate from Neutral, setting an $8 price target. He notes that the stock has lost about a quarter of its value since reporting Q1 results on April 27.
For 2010, he now expects the company to earn 45 cents a share, up from 43 cents; for 2011, he keeps his forecast at 48 cents. For Q2, he moves up to 13 cents, from 12 cents.
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