B. Riley analyst Dave Kang raised the firm’s price target on Ciena to $68 from $67 and keeps a Buy rating on the shares following the fiscal Q4 report. The firm says cloud is driving near-term growth while strong execution is resulting in higher margins.
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Read More on CIEN:
- Ciena sees average annual revenue growth of 6%-8% for FY26-FY26
- Ciena on track to be in 10% revenue CAGR for 3 years ending FY25
- Ciena entering FY24 confident in ability to grow faster than market
- Ciena: No major changes to industry dynamics, demand remains strong
- Ciena reports Q4 adjusted EPS 75c, consensus 69c
