In a report issued on June 15, George Notter from Jefferies maintained a Buy rating on Ciena (CIEN – Research Report). The company’s shares closed last Friday at $45.64, close to its 52-week low of $41.63.
According to TipRanks.com, Notter is a 5-star analyst with an average return of 11.4% and a 56.8% success rate. Notter covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Motorola Solutions, and CommScope Holding.
Currently, the analyst consensus on Ciena is a Strong Buy with an average price target of $69.67, implying a 53.7% upside from current levels. In a report issued on June 3, B.Riley Financial also upgraded the stock to Buy with a $67.00 price target.
The company has a one-year high of $78.28 and a one-year low of $41.63. Currently, Ciena has an average volume of 1.49M.
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Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems and operating system software. The Packet Networking segment includes service delivery switches, services aggregation switches, and ethernet packet configurations. The Optical Transport segment manufactures and trades optical transport systems, common photonic layer, data networking products, data center interconnection and virtual networks. The Software and Services segment provides wide area network controller, network functions virtualization platform, and software applications. The company was founded by Patrick H. Nettles in November 1992 and is headquartered in Hanover, MD.
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