Nomura Securities Maintains a 'Buy' on CIENA (CIEN); Q2 Review
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Price: $15.52 --0%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 28
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 28
Trade CIEN Now!
Nomura Securities maintains a 'Buy' on CIENA (NASDAQ: CIEN) price target of $17.00.
Analyst, Stuart Jeffrey, said, "Rehabilitation on track; taking share and generating cash. Revenues beat consensus estimates by 7%, driven by optical transmission growth of 17% p.a. Order bookings appear robust and continued share gains and revenue outperformance seem likely. The gross margin miss seems to be entirely driven by revenue mix and should unwind as contracts mature, discounts expire and spending transitions to capacity. We see 28% further upside even after a 12% recovery yesterday. The stock may remain volatile as earnings support is weak until 2014. However, we see upside to our and consensus estimates. 2012E/2013E EPS goes from ($0.15)/$1.35 to ($1.24)/($0.08)."
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 $13.55 yesterday, with a 52 week range of $9.89-$27.27.
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Analyst, Stuart Jeffrey, said, "Rehabilitation on track; taking share and generating cash. Revenues beat consensus estimates by 7%, driven by optical transmission growth of 17% p.a. Order bookings appear robust and continued share gains and revenue outperformance seem likely. The gross margin miss seems to be entirely driven by revenue mix and should unwind as contracts mature, discounts expire and spending transitions to capacity. We see 28% further upside even after a 12% recovery yesterday. The stock may remain volatile as earnings support is weak until 2014. However, we see upside to our and consensus estimates. 2012E/2013E EPS goes from ($0.15)/$1.35 to ($1.24)/($0.08)."
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 $13.55 yesterday, with a 52 week range of $9.89-$27.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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