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Fly News Breaks for March 5, 2019
CIEN
Mar 5, 2019 | 16:52 EDT
Piper Jaffray analyst Troy Jensen raised his price target on Ciena to $41 after its "solid" Q1 beat on earnings and revenues, even though its gross margins were just below consensus. The analyst sees the company continuing to "capture incremental market share while being in the early deployment stage of numerous wins" and expects its growth to exceed the aggregate market. Jensen keeps his Neutral rating on Ciena however given the "intensifying competition" for its 400/600G offerings.
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