Ciena price target raised to $127.50 from $100 at Rosenblatt

Rosenblatt raised the firm’s price target on Ciena (CIEN) to $127.50 from $100 and keeps a Neutral rating on the shares. The firm upped estimates post the fiscal Q3 beat, saying the company is seeing notable data center interconnect demand strength. However, Rosenblatt prefers “not to chase the stock” at current levels.