CIENA (CIEN) Higher After Barclays Upgrade
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Shares of CIENA Corp. (Nasdaq: CIEN) are up 14% after Barclays Capital upgrades the network equipment company from Equal Weight to Overweight and raised its price target from $7 to $10.
In its upgrade, the firm cited the company's long-term growth potentail and the stock's valuation. The firm also said CIENA is making gains against struggling competitors.
Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic in the United States and internationally.
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