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Fly News Breaks for August 25, 2016
INFN, CIEN
Aug 25, 2016 | 07:35 EDT
Citi analyst Stanley Kovler raised his price target on Ciena (CIEN) to $23 from $21, saying that he expects a relatively in-line Q3 report from the company. He also removed the firm's High Risk rating on Ciena due to lower share volatility, but keeps a Neutral rating on the shares, saying that Infinera's (INFN) aggressive pricing in Ciena's metro markets outside of Tier 1, along with existing pricing pressure from other players, is a major risk going forward.