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Fly News Breaks for August 31, 2018
CIEN
Aug 31, 2018 | 09:01 EDT
MKM Partners analyst Michael Genovese raised his price target on Ciena to $36 and kept his Buy rating after its "strong" Q3 results that saw revenues, earnings, and gross margins exceed expectations. The analyst cites Ciena's book-to-bill ratio above parity and backlog at record levels, noting that the company is best positioned to outperform in the Optical / Communications Systems space. Genovese adds that the "global demand for Optical capacity is broad-based" and expects the Telco arena performance to remain strong in 2019 with the launch of 5G connectivity.
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