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Ciena price target lowered to $75 from $82 at Evercore ISI

Evercore ISI analyst Amit Daryanani lowered the firm’s price target on Ciena (CIEN) to $75 from $82 and keeps an In Line rating on the shares. Ciena’s recent quarter was “a mixed bag,” with revenue outpacing expectations, but EPS missing the mark, the analyst tells investors. Top-line growth was fueled by strong performance in the cloud segment, but softer gross margins, influenced by product mix and tariffs, weighed on profitability, notes the analyst, who adds that margin pressures “remain a concern.”

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