Ciena (CIEN): Needham Getting More Positive
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Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of CIENA (NYSE: CIEN) and is generally more positive following the Ciena earnings release, conference call and call back. The analyst stated that management called out improving conditions in Europe, strong demand growth in CALA, robust US demand with accelerating Metro sales and stronger growth and share in Sub-Sea. Ciena also stressed continuing improvement in margins in FY17 and beyond.
No change to the price target of $30.
Shares of CIENA closed at $22.89 yesterday.
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