Barclays Maintains an 'Overweight' on CIENA (CIEN); Q3 Preview: Expect Above Market Growth

Barclays maintains an 'Overweight' on CIENA (NASDAQ: CIEN) price target of $20.00 (from $18.00).

Analyst, Jeff Kvaal, said, "Despite a soft carrier capex environment, we believe the optical market is resilient and CIEN share gains will fuel above market growth. We expect F3Q sales to be close to the high end of guidance...Our checks confirm ongoing growth in 40G/100G as North American carriers invest in network upgrades."

Q3 revenue estimates raised from $472M to $481M, CY2013 EPS to $0.86 from $0.79 and FY2013 EPS to $0.63 from $0.60.

CIEN is scheduled to report Q3 EPS on August 30, 2012. (Consenus is -0.02 and $473.05M)

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 $17.24 yesterday.

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