Ciena (CIEN): Cutting Ests To The Low On The Street Ahead Of Earnings - Needham
- World stocks hold near 16-month highs after strong week
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Oil edges higher on optimism over non-OPEC output cuts
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Sibanye Gold (SBGL) to Acquire Stillwater Mining Company (SWC) in $2.2B Deal
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of CIENA (NYSE: CIEN) but is cautious on both results and guidance heading into the print. CIEN says demand remains robust, but the analyst is less confident.
Concerns include spending tightness at AT&T and the AT&T/TWX deal, a lack of expansion in the Verizon Metro builds, the Verizon/XO acquisition, and the Century Link/Level 3 transaction. The analyst believes the quarter guidance came late enough in the quarter that Ciena should meet estimates, but the guide could be weaker than Street forecasts. Ciena's insistence that it is not seeing the issues in Infinera’s results seems to have buckled under. Ciena could still be seeing softness.
No change to the price target of $30.
Shares of CIENA closed at $22.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- Stifel Raises Price Target on Clean Harbors (CLH) to $60; Reiterates Buy
- Credit Suisse Upgrades Univar (UNVR) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company, Earnings, Definitive Agreement
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!