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Fly News Breaks for September 6, 2019
CIEN
Sep 6, 2019 | 09:11 EDT
MKM Partners analyst Michael Genovese lowered his price target on Ciena to $51, saying the company posted a "clean" Q3 earnings beat, but its Q4 guidance was "only slightly" ahead of expectations. The analyst still keeps a Buy rating on the stock however and believes that the positives outweigh the negatives, with the quarter showing "strong" year-to-date book-to-bill above 1.0 and a rising backlog. Genovese adds that he is positive on the company's leadership in 400G and 800G technology.
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