Goldman Sachs Starts CIENA (CIEN) at Neutral, Cites Valuation

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Goldman Sachs initiates coverage on CIENA (NASDAQ: CIEN) with a Neutral rating and $18 price target.

While the firm expects Ciena to be able to grow its top line at a 10% CAGR between FY11-14 and return to profitability throughout FY13, with the stock up 47% ytd the premium to peers already reflects top-line and margin recovery expectations.

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 $17.82 yesterday, with a 52 week range of $9.89-$18.38.

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