Nomura Securities Reiterates a 'Buy' on CIENA (CIEN); Q2 Optical Trends Remain Favorable
Tweet Send to a FriendGet Alerts CIEN Hot Sheet
Price: $15.52 --0%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade CIEN Now!
Nomura Securities reiterates a 'Buy' on CIENA (NASDAQ: CIEN) price target of $21.00.
Analyst, Stuart Jeffrey, said, "Optical transmission trends continued to deteriorate in Q2, weighing on the broader sector. Technology and geographic trends, however, continue to favor Ciena. Combined with a solid capex outlook in Ciena’s core markets in H2, we reiterate our rating and target price. Global optical equipment vendor revenues fell 10% y-o-y to $3.2bn in Q2, according to Infonetics. Specific dynamics include: SONET/SDH declined 22% y-o-y to $1.2bn; WDM fell 2% y-o-y to $2.0bn; Europe fell 23% with SDH down 28% and WDM down 20%; North America fell 14% with SONET down 45% and WDM up 3%; APAC grew 5% driven by a 21% increase in WDM."
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 $17.62 yesterday, with a 52 week range of $9.89-$18.39.
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, Stuart Jeffrey, said, "Optical transmission trends continued to deteriorate in Q2, weighing on the broader sector. Technology and geographic trends, however, continue to favor Ciena. Combined with a solid capex outlook in Ciena’s core markets in H2, we reiterate our rating and target price. Global optical equipment vendor revenues fell 10% y-o-y to $3.2bn in Q2, according to Infonetics. Specific dynamics include: SONET/SDH declined 22% y-o-y to $1.2bn; WDM fell 2% y-o-y to $2.0bn; Europe fell 23% with SDH down 28% and WDM down 20%; North America fell 14% with SONET down 45% and WDM up 3%; APAC grew 5% driven by a 21% increase in WDM."
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 $17.62 yesterday, with a 52 week range of $9.89-$18.39.
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
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- NetApp (NTAP) Post Solid Q4, Numbers Bumped - Needham & Company
- Goldman Sachs Downgrades InterXion Holding (INXN) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Nomura
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!
