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Fly News Breaks for March 6, 2019
CIEN
Mar 6, 2019 | 07:03 EDT
BMO Capital analyst Tim Long raised his price target on Ciena to $50 and kept his Outperform rating after its "strong" Q1 results showing expanded operating margins and above consensus sales. The analyst notes that he remains "encouraged by the company's long-term growth prospects, which include additional share gains in web-scale and new densification projects with Tier 1 service providers." Long also cites Ciena's new products in the Wavelogic family and in Blue Planet software that are "expected to ramp later this year".
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