Ciena (CIEN): Raising PT On Solid Quarter - Cowen
Cowen analyst, Paul Silverstein, reiterated his Outperform rating on shares of Ciena (NYSE: CIEN) and raised his price target to $36 after FY2Q17 operating results and guidance bolstered his our outlook regarding the operating model.
The analyst expects CIEN to benefit from its leading position in the 100G+ optical systems market
and strong outlook for 100G Metro, DCI and Subsea, along with Packet Ethernet, markets and to see margin progression resume in FY18.
The new PT of $36 is up from $35.
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Shares of CIENA closed at $27.19 yesterday.