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Fly News Breaks for October 2, 2019
Oct 2, 2019 | 07:36 EDT
Stifel analyst John Marchetti said he came away from his meetings with Ciena CEO Gary Smith comfortable with his bullish view and believes that the recent weakness in the stock "presents a compelling buying opportunity." Ciena is separating itself from competition in its core optical transport and data center interconnect markets, contends Marchetti, who remains confident the company can beat its 20% EPS growth target over the next two years given that management was increasingly confident in its ability to achieve FY20 operating margins of 15%. He keeps a Buy rating and $54 price target on Ciena shares.
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