Fly News Breaks for June 7, 2019
Jun 7, 2019 | 05:26 EDT
Citi analyst Jim Suva raised his price target for Ciena to $55 from $50 and reiterates a Buy rating on the shares following the company's fiscal Q2 results. The company reported a "big beat on all metrics" and countered concerns going into the print of gross margin pressures and a possible slowdown by cloud hyperscale providers, Suva tells investors in a post-earnings in a research note.
News For CIEN From the Last 2 Days
Jul 18, 2019 | 08:32 EDT
JPMorgan analyst Samik Chatterjee raised his price target for Ciena (CIEN) to $53 from $50 saying he sees further upside in the shares. The analyst sees ~$2B of incremental revenue opportunity for the company through continued consolidation of share away from sub-scale optical system companies, a ~$2.4B opportunity through accelerated share wins from entrenched players, and "strong" growth opportunities in its Metro segment, which he believes is levered to benefit the most from 5G investments. Further, investor sentiment on Ciena shares stands to "improve materially" as competitive concerns relating to Acacia Communications' (ACIA) product look overdone, Chatterjee tells investors in a research note. He keeps an Overweight rating on the name.