Ciena price target raised to $63 from $60 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ciena to $63 from $60 and keeps an Overweight rating on the shares. Ciena’s AI/data center webcast laid out attributes of the bull case, namely AI accelerating data growth and coherent coming into the data center, the analyst tells investors. The firm believes Ciena has “concrete upside opportunities” in intra/around data center, particularly if it leads to data growth exceeding 25%-30%, the analyst added.