Soleil Securities Downgrades Tellabs (NASDAQ: TLAB)
BySoleil Securities equities research analysts downgraded shares of Tellabs (NASDAQ: TLAB) from a “buy” rating to a “hold” rating with a price target of $8.00 in a research note to investors on Thursday saying the company is losing market share.
Tellabs, Inc. is engaged in designing and marketing equipment and services to communications services providers worldwide. The Company’s products and services enable its customers to deliver wireline and wireless voice, data and video services to business and residential customers. It sells its products domestically and internationally through its field sales force and distributors/partners. The Company’s customers are primarily communication services providers, including local exchange carriers (LECs), global wireline and wireless service providers, multiple system operators (MSOs) and competitive service providers (CSPs). Its customer base also includes distributors, original equipment manufacturers (OEMs), system integrators and government agencies. The Company operates in three segments: Broadband, Transport and Services. On December 1, 2009, the Company acquired WiChorus, Inc., a supplier of industry infrastructure products for the mobile Internet.
Shares of TLAB traded down 1.23% hitting $7.24 during mid-day trading on Thursday.
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