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Fly News Breaks for January 30, 2019
CIEN
Jan 30, 2019 | 07:04 EDT
As previously reported, BofA Merrill Lynch analyst Tal Liani downgraded Ciena to Neutral from Buy, citing mainly valuation after the stock's 80% run-up since the beginning of 2018. He remains positive on Ciena's technology leadership, share gains, and consistent execution and views the company as "a long-term optical winner," Liani tells investors. He raised his price target on the stock to $42 from $39, stating that he believes expectations are elevated and the valuation limits additional upside.
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