Barclays Maintains an 'Overweight' on CIENA (CIEN); Q3 Preview: Expect Above Market Growth
Tweet Send to a FriendGet Alerts CIEN Hot Sheet
Price: $16.35 +2.00%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CIEN Now!
Barclays maintains an 'Overweight' on CIENA (NASDAQ: CIEN) price target of $20.00 (from $18.00).
Analyst, Jeff Kvaal, said, "Despite a soft carrier capex environment, we believe the optical market is resilient and CIEN share gains will fuel above market growth. We expect F3Q sales to be close to the high end of guidance...Our checks confirm ongoing growth in 40G/100G as North American carriers invest in network upgrades."
Q3 revenue estimates raised from $472M to $481M, CY2013 EPS to $0.86 from $0.79 and FY2013 EPS to $0.63 from $0.60.
CIEN is scheduled to report Q3 EPS on August 30, 2012. (Consenus is -0.02 and $473.05M)
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 $17.24 yesterday, with a 52 week range of $9.89-$18.39.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Jeff Kvaal, said, "Despite a soft carrier capex environment, we believe the optical market is resilient and CIEN share gains will fuel above market growth. We expect F3Q sales to be close to the high end of guidance...Our checks confirm ongoing growth in 40G/100G as North American carriers invest in network upgrades."
Q3 revenue estimates raised from $472M to $481M, CY2013 EPS to $0.86 from $0.79 and FY2013 EPS to $0.63 from $0.60.
CIEN is scheduled to report Q3 EPS on August 30, 2012. (Consenus is -0.02 and $473.05M)
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 $17.24 yesterday, with a 52 week range of $9.89-$18.39.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- UPDATE: Vanda Pharmaceuticals (VNDA) Opens Higher; Lazard Raises PT to $17
- Wells Fargo Downgrades Aruba Networks (ARUN) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
