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Fly News Breaks for December 11, 2015
CIEN
Dec 11, 2015 | 08:45 EDT
After Ciena reported higher than expected Q4 revenue but its Q1 revenue guidance came in below expectations, BMO Capital notes that the company's operating margin reached a multi-year high of 13%. The firm thinks that the overall results were negative, but it is upbeat about what it calls the company's "steady operating margin improvement." BMO trimmed its price target on the name to $25 from $30 but keeps an Outperform rating on the shares.
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