Ciena price target lowered to $59 from $62 at BofA

BofA analyst Tal Liani lowered the firm’s price target on Ciena to $59 from $62 and keeps a Buy rating on the shares as the firm adjusted targets for several stocks across its Data Networking and Cybersecurity coverage universe. The firm updated its Ciena model following the recent earnings results and “slightly” tweaks its estimates downward based on management’s latest guidance and market outlook.