Ciena price target raised to $585 from $430 at Stifel

Stifel analyst Ruben Roy raised the firm’s price target on Ciena (CIEN) to $585 from $430 and keeps a Buy rating on the shares. Heading into fiscal Q3 reports for Coherent (COHR) and Lumentum (LITE) this week and Ciena’s fiscal Q2 print due in early June, the firm remains Buy-rated across all three optical networking names and is “again” raising estimates and target prices, the analyst tells investors in a group preview.

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