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Fly News Breaks for January 12, 2016
CIEN
Jan 12, 2016 | 08:35 EDT
As previously reported, Morgan Stanley upgraded Ciena to Overweight from Equal Weight and lowered its price target to $23 from $25 on shares. Analyst Meta Marshall said macro concerns have sent shares 10% lower in January and he now views the stock as attractive. Marshall believes Ciena's revenue can reaccelerate as metro builds roll out and and thinks a multi-year upgrade cycle in the optical segment creates an opportunity for meaningful earnings growth.
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