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Fly News Breaks for January 3, 2017
COMM, CIEN
Jan 3, 2017 | 07:35 EDT
Wells Fargo named Ciena (CIEN) and CommScope (COMM) as its top picks in the communications technology sector going into 2017. The firm expects Ciena to benefit from "strength in the 100G metro and data center interconnect markets." It thinks that the company's results could beat expectations, helping to push the shares towards the high end of the firm's $30-$32 price target range. CommScope's EPS could beat expectations "over the next few years," driven by "U.S. wireless densification and fiber initiatives, along with the realization of BNS synergies," according to Wells.
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