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Fly News Breaks for September 6, 2019
CIEN
Sep 6, 2019 | 06:46 EDT
Barclays analyst Tim Long raised his price target for Ciena to $53 from $50 saying the company's July quarter results exceeded expectations while revenue guidance was only in-line. Any near-term weakness in the shares presents an attractive entry point as Ciena continues to take market share in a growing optical segment, Long tells investors in a research note. Further, its operating margins are expanding, the guidance is conservative, and the stock's valuation is attractive, argues the analyst. He keeps an Overweight rating on Ciena.
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