Auriga Initiates Coverage of Ciena (CIEN) with a Buy
CIEN Hot Sheet
Rating Summary:12 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Auriga initiates coverage of Ciena (Nasdaq: CIEN) with a Buy rating and $18 price target.
Auriga analyst says, "In a few weeks, Ciena will close on its acquisition of Nortel Network's (NYSE: NT) optical assets, which will reshape the company into the largest provider of optical gear in North America with annual sales approaching $1.5B. Given its mixed acquisition history, the Street is properly anxious about Ciena's ability to integrate a company of similar size--we take a contrarian positive view. Our early checks suggest Ciena is off to a good start on its integration planning and remains well positioned with its key U.S. customer, AT&T (NYSE: T), as demand for core fiber products enjoys a long-awaited bounce. As such, we think there is enough leverage to the model to buy the shares. We see the shares as speculative, having higher than average volatility."
To see all the upgrades/downgrades on shares of CIEN, visit our Analyst Ratings page.
Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic.
Auriga analyst says, "In a few weeks, Ciena will close on its acquisition of Nortel Network's (NYSE: NT) optical assets, which will reshape the company into the largest provider of optical gear in North America with annual sales approaching $1.5B. Given its mixed acquisition history, the Street is properly anxious about Ciena's ability to integrate a company of similar size--we take a contrarian positive view. Our early checks suggest Ciena is off to a good start on its integration planning and remains well positioned with its key U.S. customer, AT&T (NYSE: T), as demand for core fiber products enjoys a long-awaited bounce. As such, we think there is enough leverage to the model to buy the shares. We see the shares as speculative, having higher than average volatility."
To see all the upgrades/downgrades on shares of CIEN, visit our Analyst Ratings page.
Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic.
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