Needham & Company Sees 'Solid' Upcoming Results for CIENA (CIEN)

Needham & Company analyst Alex Henderson reiterated a Buy rating and $30 price target on CIENA (NYSE: CIEN), saying they expect a solid quarter and guidance when the company reports on Sept. 3.

Henderson commented, "Optical demand in the US and globally looks robust and even accelerating despite the uncertain macro backdrop. The long haul and sub-sea segments continue to post solid growth and are establishing a solid base line to growth. We see clear strength in Cloud-to-Cloud with the DCI market strengthening, which is helping to accelerate demand. Add in the emerging Metro Core market where Ciena continues to win the lion's share of major contracts and the stage looks set for a robust quarter, solid Q-Q guidance, and a strong CY16 and CY17. Against this backdrop Ciena is gaining share, improving GMs and leveraging Operating Margins. We reiterate our Buy rating on CIEN shares and expect solid results and guidance when they report Thursday morning."

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 $22.00 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Needham Upgrades Netflix (NFLX) to Buy, 'on Rev Upside from Tech Stack'
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC