Nomura Securities Starts CIENA (CIEN) at Buy

Nomura Securities initiates coverage on CIENA (NYSE: CIEN) with a Buy rating and a price target of $29.00.

Analyst Jeffrey Kvaal commented, "A healthy optical market and share gains should drive Ciena to ~10% sales growth through 2016, in our view. Rising sales of the higher-margin metro product should allow for at least stable gross margins and operating leverage. We initiate coverage of Ciena with a Buy rating and $29 target price."

For an analyst ratings summary and ratings history on CIENA click here. For more ratings news on CIENA click here.

Shares of CIENA closed at $24.20 yesterday.

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