Barclays Maintains an 'Overweight' on CIENA (CIEN); Transport and CESD Snapback

June 1, 2012 1:03 PM EDT
Get Alerts CIEN Hot Sheet
Price: $24.03 -0.12%

Rating Summary:
    24 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
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Barclays maintains an 'Overweight' on CIENA (NASDAQ: CIEN) price target lowered from $19 to $18.

Analyst, Jeff Kvaal, said, "Ciena delivered a healthy F2Q beat and guided F3Q sales in line...EPS lower as opex discipline partially offsets GM decline: Our F3Q sales estimates of ~$470M is largely unchanged vs. $455-$485M guide. We lower our FY13 EPS to $0.60 from $0.68 and CY13 to $0.79 from $0.85. EPS is lower vs. consensus due to convert."

Kvaal Call: Underneath a mediocre 2Q lies a better transport business and a slowly arriving 5400 cycle.

For an analyst ratings summary and ratings history on CIENA click here. For more ratings news on CIENA click here.

Shares of CIENA closed at $13.55 yesterday.

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