Ciena price target raised to $63 from $60 at Barclays

Barclays raised the firm’s price target on Ciena to $63 from $60 and keeps an Overweight rating on the shares. The company reported fiscal Q1 results in-line with to above estimates, though the Q2 guidance came in significantly below the Street, and updated fiscal year guidance was lowered as carrier recovery protracts and is more gradual than originally expected, the analyst tells investors in a research note.