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Fly News Breaks for December 8, 2017
CIEN
Dec 8, 2017 | 08:41 EDT
BMO Capital analyst Tim Long lowered his price target on Ciena to $25 after "mixed" Q4 results and lower than expected Q1 guidance. Long notes that Q4 gross margins of 44.2% were below his forecast and are expected to persist into the next two quarters, but also anticipates more sales and increased market share from new deployments related to these higher costs. The analyst keeps his Outperform rating on Ciena, citing its recent customer wins in APAC and strong traction for WaveServer and WaveLogic Ai as promising.
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