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Fly News Breaks for September 2, 2016
CIEN
Sep 2, 2016 | 08:16 EDT
As previously reported, Morgan Stanley analyst Meta Marshall downgraded Ciena to Equal Weight from Overweight, saying that while the company can likely outgrow the market over the next couple of years, its industry remains intensely competitive and growth is slowing in the long haul market, leaving little room for multiple expansion. Marshall maintains a $23 price target on Ciena shares, which have risen 12% year-to-date.
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