Thursday August 13, 06:59 PM
STOCKS NEWS US-Tellabs climbs after Morgan Keegan upgrade
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1338 ET 13Aug2009-Tellabs (NASDAQ: TLAB - news) climbs after Morgan Keegan upgrade
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Tellabs Inc shares rose 9.2 percent to $6.80 on Thursday after
Morgan Keegan boosted its rating on the stock to 'outperform' from 'market
perform.'
The firm believes the networking equipment company's improved data
networking business and optical margin can yield better than expected optical
results and boosted its full-year 2010 estimate to 32 cents per share from 22
cents per share.
Morgan Keegan expects a gradual mix shift from the company
and cost reduction efforts to deliver improving margins, leading to increased
Wall Street estimates.
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