Needham & Company Reiterates a 'Buy' on CIENA (CIEN); Raising Estimates on Continued Outperformance

Needham & Company reiterates a 'Buy' on CIENA (NASDAQ: CIEN) price target of $16.00.

Analyst, Alex Henderson, said, "We believe the tone of Ciena’s business is comparatively robust despite the rough economic conditions. Uptake of 100G coherent and OTN switching should favor share gains and help Ciena leverage its business model. Compared to other telecom stocks, we believe Ciena should outperform...Increasing FY 12 EPS to $0.00 from a $0.05 loss and increasing FY 13 from a $0.65 profit to a $0.70 profit."

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 $13.55 yesterday.

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