Needham & Company Reiterates a 'Buy' on CIENA (CIEN); Positive Tone at Analyst Day
Tweet
Share
E-mailGet Alerts CIEN Hot Sheet
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
Join SI Premium – FREE
Needham & Company reiterates a 'Buy' on CIENA (NASDAQ: CIEN) price target of $16.00.
Analyst, Alex Henderson, said, "Ciena hosted its annual analyst day on Monday afternoon. The meeting retained a similar upbeat tone as the recent earnings release conference call. Ciena is confident in its outlook despite the current macro uncertainty due to the rapid adoption of coherent 100G transport technologies. We think Ciena has better visibility than most tech names, and we think CIEN should continue to outperform in the current choppy environment."
"Despite the disappointing results out of Finisar (Nasdaq: FNSR)(Not rated) after the close, Ciena’s differentiated position should continue to help Ciena and CIEN shares outperform." (Needham moves CIEN's FY12 EPS estimate from (0.05) to $0.00 and FY13 from $0.65 to $0.70)
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 $14.12 yesterday.
Analyst, Alex Henderson, said, "Ciena hosted its annual analyst day on Monday afternoon. The meeting retained a similar upbeat tone as the recent earnings release conference call. Ciena is confident in its outlook despite the current macro uncertainty due to the rapid adoption of coherent 100G transport technologies. We think Ciena has better visibility than most tech names, and we think CIEN should continue to outperform in the current choppy environment."
"Despite the disappointing results out of Finisar (Nasdaq: FNSR)(Not rated) after the close, Ciena’s differentiated position should continue to help Ciena and CIEN shares outperform." (Needham moves CIEN's FY12 EPS estimate from (0.05) to $0.00 and FY13 from $0.65 to $0.70)
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 $14.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
