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Fly News Breaks for December 6, 2018
CIEN, CSCO
Dec 6, 2018 | 07:08 EDT
JPMorgan analyst Samik Chatterjee removed Ciena (CIEN) from his firm's Analyst Focus List following the year-to-date share price performance of 48%. The analyst, however, keeps an Overweight rating on the shares as he still sees 24% upside from current levels. Heading into 2019, he added Overweight-rated Cisco Systems (CSCO) to the Analyst Focus List as a value idea. Cisco is now his top pick within his Networking Equipment/IT Hardware coverage given its "accelerating" product momentum, secular transformation to software and recurring revenue, and potential for "greater upside from re-rating of the shares."
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