Ciena price target raised to $76 from $71 at Cowen

Cowen analyst Paul Silverstein raised the firm’s price target on Ciena to $76 from $71 and keeps an Outperform rating on the shares. The analyst noted Ciena said supply constraints having been the only adverse issue over the past two quarters and that ongoing strong demand trends and initial improvement in supply chain challenges translated into strong results and in the outlook both near- and longer-term.