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Ciena price target raised to $85 from $75 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Ciena (CIEN) to $85 from $75 and keeps an Outperform rating on the shares following the company’s “mixed” fiscal Q2 report and outlook. The key to the firm’s recommendation is the durability of demand strength that led the company to increase its FY25 growth estimate to 14% from the high end of an 8-11% target range, says the analyst, who adds that it “is axiomatic in the Optical space to buy systems providers when margins are depressed due to higher line system/common equipment revenue.”

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