Rosenblatt Defends CIENA (CIEN)

Rosenblatt analyst Ryan Koontz reiterated a Buy rating and $47.00 price target on CIENA (NYSE: CIEN) following results, calling resutls "stellar: while guidance was in-lien with soft bookings.

"With the stock selling off as a result, we view this sell off as a buying opportunity as we believe CIEN will continue to benefit from a customer “flight to quality” at the expense of weaker competitors and Chinese suppliers. We believe modest share loss in webscale is baked into company and street expectations. An expected surge in 5G driven metro infrastructure should enable the company to exceed its conservative revenue outlook for FY20 (+6-8% y/y)."

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 $41.20 yesterday.

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