Raymond James raised the firm’s price target on Ciena (CIEN) to $250 from $120 and keeps an Outperform rating on the shares. Ciena raised its FY26 growth outlook to 21%-29%, beating concerns about a soft Q1 forecast thanks to broader demand, stronger hyperscale sales, and new products, the analyst tells investors in a research note. Its early positioning in AI networking is driving optimism that this year marks the start of a larger growth cycle, Raymond James adds.
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