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.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CIEN:
- Ciena price target raised to $90 from $89 at B. Riley
- Ciena price target raised to $73 from $44 at Morgan Stanley
- Ciena’s Strong Cloud Performance and Strategic Buy Opportunity Amid Stock Pullback
- Ciena’s Strong Q2 Performance and Strategic Cloud Moves Justify Buy Rating with $95 Price Target
- Ciena price target raised to $78 from $73 at UBS
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue