Ciena (CIEN): Cutting Ests To The Low On The Street Ahead Of Earnings - Needham
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company, Earnings, Definitive Agreement
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