Ciena price target raised to $222 from $113 at B. Riley

B. Riley raised the firm’s price target on Ciena (CIEN) to $222 from $113 and keeps a Neutral rating on the shares. Ciena beat Q4 revenue and EPS estimates, driven by strong Optical Networking and Cloud growth, and provided FY26 guidance above consensus, the analyst tells investors in a research note. While demand remains robust and a $5B backlog provides visibility, current valuation multiples are well above historical norms and are expected to eventually revert, the firm says.