Barclays Maintains an 'Overweight' on CIENA (CIEN); Share Gains, Switching Strength Lift Estimates
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Price: $428.77 -3.17%
Rating Summary:
25 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on CIENA (NASDAQ: CIEN) price target of $19.00.
Barclays analyst says, "Switching and a healthy pipeline are bright spots; lower bar was widely anticipated: Ciena posted a solid F4Q on balance followed by lower, but widely expected guidance. Healthy momentum, especially in switching, allows our EPS to rise."
"Strong backlog and 5400 momentum drive estimates higher: CIEN's backlog rose a very healthy $100mn YoY. The 5400 may be lumpy, but six new customers and over 30 engagements make us enthusiastic on a 2012 ramp. Thus, our CY2012/13 EPS rise to $0.75/$0.95 from $0.70/$0.90. We estimate EPS power of ~$1.30 in CY13."
Kvaal Call: Signs of progress with the 5400, the primary driver of the stock in our opinion, support our positive view of Ciena.
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 $12.03 yesterday.
Barclays analyst says, "Switching and a healthy pipeline are bright spots; lower bar was widely anticipated: Ciena posted a solid F4Q on balance followed by lower, but widely expected guidance. Healthy momentum, especially in switching, allows our EPS to rise."
"Strong backlog and 5400 momentum drive estimates higher: CIEN's backlog rose a very healthy $100mn YoY. The 5400 may be lumpy, but six new customers and over 30 engagements make us enthusiastic on a 2012 ramp. Thus, our CY2012/13 EPS rise to $0.75/$0.95 from $0.70/$0.90. We estimate EPS power of ~$1.30 in CY13."
Kvaal Call: Signs of progress with the 5400, the primary driver of the stock in our opinion, support our positive view of Ciena.
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 $12.03 yesterday.
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