Needham & Company Reiterates a 'Buy' on CIENA (CIEN); Positive Tone at Analyst Day

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
• Erste Group Downgrades Apple (AAPL) to Hold, 'new products do not currently have the potential to significantly improve momentum'
• Citi Upgrades TAL International (TAL) to Buy, sees "strong revenue and earnings growth"