CIENA (CIEN) PT Raised to $27 at Jefferies on NA Improvement
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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.
Shares of CIENA closed at $23.17 yesterday.
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