Needham & Company Maintains Bullish View on CIENA (CIEN) After Upbeat Analyst Day
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Needham & Company analyst Alex Henderson reiterated a Buy rating and $31 price target on CIENA (NASDAQ: CIEN) following yesterday's upbeat and confident analyst day.
Henderson commented, "Ciena offered an upbeat assessment of its prospects and industry dynamics. Growth appears to be accelerating across most of its key business segments. CY14 should see accelerating demand and CY15 and CY16 look to be the period when the overall Ciena strategy hits the sweet spot in adoption. The market appears to be coming together, with each segment starting to feed into the adjacent areas."
Shares of CIENA closed at $22.69 yesterday.
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