Stifel analyst John Marchetti raised his price target for Ciena to $54 from $46 and reiterates a Buy rating on the shares. The company's "significant beat and raise" in fiscal Q2 is further evidence that it is separating itself from competition in its core optical transport and data center interconnect markets, Marchetti tells investors in a post-earnings research note. Further, the analyst views Ciena's increased revenue diversification as well as another quarter of order growth exceeding sales growth as "positive indicators that higher growth rates are sustainable."