Nomura Securities Maintains a 'Buy' on CIENA (CIEN); Trimming Numbers to Reflect N-T Challenges
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Price: $15.97 -2.32%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade CIEN Now!
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, with a 52 week range of $9.89-$27.27.
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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, with a 52 week range of $9.89-$27.27.
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