Citi analyst Atif Malik raised the firm’s price target on Ciena (CIEN) to $658 from $345 and keeps a Buy rating on the shares ahead of the April quarter report on June 4. The company’s fiscal 2027 and 2028 growth expectations have “materially increased” on heightened demand for optical connectivity, the analyst tells investors in a research note. Citi cites Ciena’s higher sustainable sales growth and improved profitability for the target boost.
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