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Fly News Breaks for June 25, 2018
CIEN
Jun 25, 2018 | 07:54 EDT
As previously reported, Morgan Stanley analyst Meta Marshall upgraded Ciena to Overweight from Equal Weight, after she moved the stock to the top of her Optical Scorecard following recent meetings with management that give her confidence that the company's revenue momentum can persist at least for the next year. The meetings gave Marshall more appreciation for how much the company is using technology in combination with reach to gain share, she tells investors. The analyst, who thinks Ciena's earnings power could get above an adjusted level of $2 per share by 2019, raised her price target on the stock to $30 from $29.
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