Needham & Company Reiterates Buy on Ciena (CIEN) After Spending Time with Management

Needham & Company reiterated a Buy rating and $30.00 price target on CIENA (NYSE: CIEN) after spending time with management. CIEN is experiencing strengthening demand trends in cloud DCI. The company expects to retain its No. 1 market share as both CIEN and INFN benefit from strong DCI growth.

Analyst Alex Henderson commented, "We hosted Ciena’s management through the Midwest and come away with a solid belief that CIEN and the broader optical systems markets are making solid progress. While it seems a broad skepticism remains among investors regarding the optical arena, we think much of this is rooted in the past, and we believe that current trajectories for demand and competitive landscape as well as for the optical technology franchise are gradually improving. The NDR with CIEN has helped to reinforce our perceptions of the base line dynamics in the market, which we see as improving on the demand front and improving in terms of competitive landscape."

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 $22.00 yesterday.

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