Rosenblatt downgraded Ciena to Neutral from Buy with a price target of $52.50, down from $65. While the Telecom market should somewhat normalize against easy comps, Optical spending by large Telcos may continue to be restrained in 2025, says the analyst, who also sees Ciena being up against tough comps in the Webscale Cloud market. In addition, Ciena “does not have a great AI story for FY24 and FY25,” the analyst tells investors.
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