Rosenblatt raised the firm’s price target on Ciena (CIEN) to $85 from $65 and keeps a Neutral rating on the shares ahead of the fiscal Q2 report on June 5. The firm expects “good” results and guidance, likely slightly ahead of consensus, driven by strong Cloud Provider and solid Service Provider revenue and orders. The key question for the report is will Ciena increase its fiscal 2025 revenue guidance from its current high-end” of 8% to 11%, the analyst tells investors in a research note.
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