Ciena price target raised to $65 from $55 at Citi

Citi analyst Jim Suva raised the firm’s price target on Ciena to $65 from $55 and keeps a Buy rating on the shares. Investors will be impressed that Ciena beat sales by 15% and guided 9% higher, Suva tells investors in a research note. The analyst sees more upside ahead, saying Ciena’s backlog likely grows again next quarter and "there are no signs of share loss."