Nomura Securities Maintains a 'Buy' on CIENA (CIEN); Trimming Numbers to Reflect N-T Challenges

Nomura Securities maintains a 'Buy' on CIENA (NASDAQ: CIEN) price target lowered from $20 to $17.

Analyst, Stuart Jeffrey, said, "We are trimming 2Q and FY12-14 estimates for Ciena to reflect the near-term challenges in the optical equipment space. The weakness is industry-wide and is reflected in the 12% y/y decline in the optical market (ex-Ciena) to $2.5bn in 1Q. We expect a recovery in optical in 2H owing to an uptick in seasonal spending, plus a resumption in investment to back network modernization efforts in the US and in EMEA. 2012E/2013E Adj EPS goes from $0.13/$1.44 to ($0.03)/$1.17."

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 $12.34 yesterday.

---

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

---

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Comerica (CMA) PT Raised to $54 at Piper Sandler
• Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading