Ciena price target raised to $240 from $200 at Evercore ISI

Evercore ISI analyst Amit Daryanani raised the firm’s price target on Ciena (CIEN) to $240 from $200 and keeps an In Line rating on the shares after the company reported upside to October quarter results and “impressively” raised their FY26 guidance “materially,” calling for revenue growth of about 24% and EBIT margins to 17%, which the firm says “should peg EPS in $5.20-5.50 range for FY26.” While “this was an impressive guide not just on revenues but also on margins/EPS” and the firm sees a path to $6.00-plus EPS in FY26, the firm contends that even at $8.00-plus EPS in FY27 and a roughly 30-times P/E ratio, there is “limited upside to the stock” at current levels.