Citi Maintains a 'Buy' on Ciena (CIEN); Analyst Day Should be a Positive Catalyst

Citi maintains a 'Buy' rating on Ciena Corp (Nasdaq: CIEN), price target $18.50.

Citi analyst says, "We believe Ciena’s April 20th Analyst Day in New York will be a positive share catalyst & expect continued strength even after recent CIEN share outperformance...Consensus/our estimates increasingly feel conservative (sensitivity analysis enclosed) & we expect consensus estimates, ratings, target prices move higher post-Analyst Day. We view MEN as savvy, opportunistic deal - CIEN bought the right assets (leading 40G/100G technology), at the right price (~0.75x sales) at the right time (heading out of recession, into cap ex recovery)."

To see all the upgrades/downgrades on shares of CIEN, visit our Analyst Ratings page.

Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video, and data traffic.

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