Ciena price target raised to $120 from $100 at Stifel

Stifel raised the firm’s price target on Ciena (CIEN) to $120 from $100 and keeps a Buy rating on the shares after the company reported “solid” fiscal Q3 results and gave “strong” Q4, FY25 and FY26 guidance. Visibility is high via two major AI-related orders, says the analyst, who adds that margins have inflected and believes upside potential remains.