UPDATE: Morgan Stanley Upgrades CIENA (CIEN) to Overweight
(updated to add analyst comment)
Morgan Stanley upgraded CIENA (NYSE: CIEN) from Equalweight to Overweight with a price target of $30.00 (from $29.00).
Analyst Meta Marshall says the company's WaveLogic AI and the global scale creates share gain opportunity and notes that the attractiveness of current telecom/datacomm spend puts the company at the top of his Optical Scorecard which makes him more bullish in the NT. The analyst believes earnings power to breach $2 per share by 2019 given revenue strength.
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 $24.87 yesterday.