Jefferies Upgrades CIENA (CIEN) to Hold; Expecting Strong July Quarter Ahead
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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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Jefferies upgraded CIENA (NASDAQ: CIEN) from Underperform to Hold with a price target of $14.50 (from $10.00).
Analyst, George C. Notter, said, "While we remain concerned about longer term profitability and declining legacy products, we acknowledge that the stock can continue to work near term. In total, we see the current risk/reward in the stock as balanced. Hence, we’re upgrading to Hold."
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 $15.99 yesterday.
Analyst, George C. Notter, said, "While we remain concerned about longer term profitability and declining legacy products, we acknowledge that the stock can continue to work near term. In total, we see the current risk/reward in the stock as balanced. Hence, we’re upgrading to Hold."
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 $15.99 yesterday.
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