CIENA (CIEN) PT Raised to $27 at Jefferies on NA Improvement

September 2, 2016 7:11 AM EDT
Get Alerts CIEN Hot Sheet
Price: $24.04 --0%

Rating Summary:
    24 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 16 | New: 10
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Jefferies analyst George Notter reiterated a Buy rating and boosted his price on CIENA (NYSE: CIEN) to $27.00 (from $23.00) following Q3 results saying a North America improvement is coming.

Notter commented, "The July results reinforced our thesis that Ciena’s North American business would rebound following several quarters of poor spending from customers such as CenturyLink, Comcast, and even Verizon. We continue to like the risk/reward on Ciena shares and we’re keeping our Buy rating."

The firm boosted FY 2016 EPS estimates from $1.37 to $1.44 and FY 2017 EPS estimates from $1.70 to $1.75.

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 $23.17 yesterday.

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