National Alliance Starts CIENA (CIEN) at Buy

National Alliance initiated coverage on CIENA (NASDAQ: CIEN) with a Buy rating and a price target of $27.00.

Analyst Brian Coyne said, "Our Buy rating on shares of Ciena is based on our assessment of the company’s market leadership position and strong earnings growth potential relative to their current valuation. With ample operating leverage built into the business, we believe Ciena can deliver meaningful earnings upside over the next 12 months as we think consensus revenue expectations remain conservative. Opportunities for Ciena to expand its gross margins via mix(switching and transport) and around its partnership with Ericsson (all on the come) likewise support our optimism."

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 $22.69 yesterday.

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