As previously reported, Northland upgraded Ciena (CIEN) to Outperform from Market Perform with a price target of $75, up from $60. Given “clear improvements” on the Service Provider side, Ciena reported upside in fiscal Q1, the analyst noted. A more balanced growth outlook, along with indications of “very strong” Q1 orders in Cloud and in general, lead the firm to upgrade its rating, the analyst tells investors.
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Read More on CIEN:
- Ciena upgraded to Outperform from Market Perform at Northland
- Ciena price target lowered to $89 from $97 at B. Riley
- Ciena price target lowered to $90 from $95 at Needham
- Ciena price target lowered to $76 from $80 at Morgan Stanley
- Ciena’s Strong Q1 Performance and Growth Prospects Lead to Buy Rating Despite Market Caution