Ciena price target raised to $130 from $100 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Ciena (CIEN) to $130 from $100 and keeps an Outperform rating on the shares following a better than expected fiscal Q3 report and “significant increase” in FY26 growth guidance to 17%. As part of its Q3 reporting, the company noted the strongest order quarter in company history and backlog visibility extending well into FY26, the analyst noted.