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Fly News Breaks for December 14, 2018
CIEN
Dec 14, 2018 | 07:04 EDT
JPMorgan analyst Samik Chatterjee raised his price target for Ciena to $42 saying the company reported "strong" 21% year-over-year revenue growth in fiscal Q4 and raised its longer-term top-line growth guidance from 5%-7% to 6%-8%. The analyst believes market share wins will continue to drive upside in Ciena and he keeps an Overweight rating on the name. He continues to see likelihood of upside surprises to investor expectations through a combination of greater than expected industry tailwinds, led by 5G investments, and market share wins.
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