Needham & Company Reiterates a 'Buy' on CIENA (CIEN); Positive Tone at Analyst Day
Tweet Send to a FriendGet Alerts CIEN Hot Sheet
Price: $15.45 -0.45%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CIEN Now!
Needham & Company reiterates a 'Buy' on CIENA (NASDAQ: CIEN) price target of $16.00.
Analyst, Alex Henderson, said, "Ciena hosted its annual analyst day on Monday afternoon. The meeting retained a similar upbeat tone as the recent earnings release conference call. Ciena is confident in its outlook despite the current macro uncertainty due to the rapid adoption of coherent 100G transport technologies. We think Ciena has better visibility than most tech names, and we think CIEN should continue to outperform in the current choppy environment."
"Despite the disappointing results out of Finisar (Nasdaq: FNSR)(Not rated) after the close, Ciena’s differentiated position should continue to help Ciena and CIEN shares outperform." (Needham moves CIEN's FY12 EPS estimate from (0.05) to $0.00 and FY13 from $0.65 to $0.70)
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 $14.12 yesterday, with a 52 week range of $9.89-$19.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Alex Henderson, said, "Ciena hosted its annual analyst day on Monday afternoon. The meeting retained a similar upbeat tone as the recent earnings release conference call. Ciena is confident in its outlook despite the current macro uncertainty due to the rapid adoption of coherent 100G transport technologies. We think Ciena has better visibility than most tech names, and we think CIEN should continue to outperform in the current choppy environment."
"Despite the disappointing results out of Finisar (Nasdaq: FNSR)(Not rated) after the close, Ciena’s differentiated position should continue to help Ciena and CIEN shares outperform." (Needham moves CIEN's FY12 EPS estimate from (0.05) to $0.00 and FY13 from $0.65 to $0.70)
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 $14.12 yesterday, with a 52 week range of $9.89-$19.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Toll Bros. (TOL) Q2 Solid but Not Much Better Than Peers
- Topeka Capital Starts RDA Microelectronics (RDA) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
