BofA upgrades Ciena to ‘buy’ on stronger growth outlook
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CIENA (CIEN) PT Raised to $84 at JPMorgan
December 16, 2024 4:04 AM ESTJPMorgan analyst Samik Chatterjee raised the price target on CIENA (NYSE: CIEN) to $84.00 (from $65.00) while maintaining a Neutral rating.
The analyst comments "Strong pace of investments from Cloud customers, and from Telecom and MOFN looking to leverage the opportunity around investments in interconnects, along with increasing revenue contribution from adjacent market opportunities the company has been investing towards including pluggables and routing is leading the company to issue a medium-term guide which implies a sustainably higher growth rate of 8%-11% relative to the 6%-8% growth rate it has evidenced in the past.... More
