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Fly News Breaks for December 12, 2019
Dec 12, 2019 | 14:06 EDT
Stifel analyst John Marchetti reiterated a Buy rating and $54 price target on Ciena following the company's "mixed" fourth quarter results. Marchetti said that concerns about a weaker outlook heading into results were "overblown," and in-line first quarter guidance as well as a reiteration of the company's long-term revenue outlook should provide "relief" for shares. The analyst said he believes the "strong" operating leverage being demonstrated by Ciena continues to be an underappreciated aspect of its "compelling" long-term outlook.
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