Needham raised the firm’s price target on Ciena (CIEN) to $130 from $90 and keeps a Buy rating on the shares. The company’s Q3 results beat on the top and bottom line, with the “initial” FY26 revenue growth outlook matching FY25’s 17% also “well ahead” of the 10% consensus, the analyst tells investors in a research note. The firm sees Ciena delivering on impressive share gains and solidifying its leadership position in the hyper-growth AI/cloud segment, Needham added.
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