Rosenblatt raised the firm’s price target on Ciena (CIEN) to $127.50 from $100 and keeps a Neutral rating on the shares. The firm upped estimates post the fiscal Q3 beat, saying the company is seeing notable data center interconnect demand strength. However, Rosenblatt prefers “not to chase the stock” at current levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CIEN: