Fly News Breaks for January 8, 2020
Jan 8, 2020 | 07:39 EDT
As previously reported, Morgan Stanley analyst Meta Marshall upgraded Ciena to Overweight from Equal Weight with a price target of $50, up from $47, telling investors that she sees the company having multiple levers it can pull to achieve 20% earnings growth. Marshall thinks Ciena's meaningful lead on the market in optical should help them maintain or grow share over the next couple of years, while also believing it has the ability to show operating expense leverage and generate "meaningful" cash flow, the analyst tells investors. While optical continues to be a challenging given competition, customer concentration and "opaqueness of demand," Ciena is expected to be first with 800G and "nearly first" with 400ZR, Marshall added.
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