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Fly News Breaks for April 26, 2018
T, CIEN
Apr 26, 2018 | 13:11 EDT
Jefferies analyst George Notter says he disagrees with a competitor research note this morning claiming that Ciena (CIEN) is seeing softness from AT&T (T) as the carrier re-allocates capital dollars away from packet networking. The analyst sees "nothing wrong with AT&T" and tells investors to focus on the big picture. He reiterates a Buy rating on Ciena with a $31 price target. Ciena management told Notter that they have not heard of, nor expect, any changes to AT&T's fiber-to-cell tower plans. Ciena in early afternoon trading is down 4% to $25.59.
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