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Fly News Breaks for September 1, 2017
CIEN
Sep 1, 2017 | 07:19 EDT
BMO Capital analyst Tim Long says that the midpoint of Ciena's Q4 revenue guidance came in below the consensus estimate. However, the analyst blames the miss on "weak government sales." Long expects the company's revenue from the government to rebound, and he thinks that the company still has multiple positive catalysts, including its strength in India and the success of its WaveServer product. He trimmed his price target on the shares to $28 from $32 but keeps an Outperform rating on the stock.
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