Citi raised the firm’s price target on Ciena (CIEN) to $98 from $84 and keeps a Buy rating on the shares. The stock rallied meaningfully post the October quarter results as a better than expected fiscal 2025 guide and raised three-year growth target “eclipsed a mixed” print, the analyst tells investors in a research note. Citi points out incremental opportunities for plug-gables inside the data center are not included in the updated guidance. In addition, improving spending discipline are expected to deliver 500 points of margin expansion by fiscal 2027, says the firm.
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Read More on CIEN:
- Ciena price target raised to $95 from $82 at Stifel
- Ciena upgraded to Buy at BofA on ‘brighter’ three-year outlook
- Ciena upgraded to Buy from Neutral at BofA
- Ciena price target raised to $97 from $67 at Barclays
- Ciena Corporation Reports Q4 2024 Financial Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
