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Fly News Breaks for December 8, 2017
CIEN
Dec 8, 2017 | 08:38 EDT
Cowen analyst Paul Silverstein said he would take advantage of a downdraft in Ciena shares following its Q4 results. The analyst said he still sees a greater than 50% upside opportunity in the shares with limited downside risk. He said the nominal weakness in reported and guided margins was actually a strength in that is was solely driven by new customer wins. Silverstein reiterated his Outperform rating and $33 price target on Ciena shares.
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