Deutsche Bank Upgrades CIENA (CIEN) to Buy

November 14, 2016 7:04 AM EST
Get Alerts CIEN Hot Sheet
Price: $24.04 -0.08%

Rating Summary:
    24 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank upgraded CIENA (NYSE: CIEN) from Hold to Buy with a price target of $27.

Analyst Vijay Bhagavath discussed his bullish thesis in a research note, stating, "Basis for our change in thesis is our primary research, backed by proprietary Scenario Analysis, suggesting solid order trends for CIEN in 100G+ Optical at Hyperscale Clouds (e.g. GOOGL, FB, etc) for Datacenter Interconnects and Sub-sea, and expanding opportunities in Metro at US Carriers (e.g. T, VZ, CTL, CMCSA, etc) and in India Infra, etc. CIEN is attractive at ~11x DB FY18E. Our $27 PT is a modest ~13x DB FY18E on P/E and EV/FCFE. Tactically, we call for an inline to slightly positive Q4/16 report versus consensus (CIEN Q4 EPS likely early Dec)."

For an analyst ratings summary and ratings history on CIENA click here. For more ratings news on CIENA click here.

Shares of CIENA closed at $21.74 yesterday.

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