Northland analyst Tim Savageaux attributes Ciena's (CIEN) mixed quarterly report and guidance to company-specific market share and execution issues, but also believes they are addressable. Savageaux noted that the company cited increased competitive activity from Alcatel-Lucent (ALU) prior to its merger with Nokia (NOK) as contributing to its issues in EMEA. The analyst lowered his price target on Ciena to $23 from $25, but called the sharp post-earnings selloff a buying opportunity in its shares as well as the broader optical networking infrastructure group. He maintains his Outperform rating on the stock, citing trough valuation and the fact that it is relatively early in the 100G optical cycle.

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