MKM Partners analyst Michael Genovese raised his price target on Ciena to $49 and kept his Buy rating after its "clean" beat in Q1 and a raise in its FY19 revenue outlook to the top of the prior forecast range. The analyst sees the company "gaining share in both Telco and non-Telco accounts on the strength of its best-in-class Optical engine technology" and also cites the management's confidence ahead of the WaveLogic product launch. Genovese believes that Ciena can grow its FY19 revenues by high single digits again as U.S. Tier 1 telco momentum swings from decline to growth.