Morgan Stanley Maintains Equal-Weight on Ciena

Morgan Stanley reiterates its Equal-weight rating on Ciena Corporation (NASDAQ: CIEN) as a cautious guide is expected on macro and optical shortage.

Morgan Stanley says, “While we believe FQ4 results are likely in-line, we see downside risk to FQ1'12 estimates due to cautious carrier spending and the potential impact of optical components shortages and are modeling FQ1 rev down 0.6% q/q vs Street up 2%. We are forecasting FQ4 revenue of $455.2M, up 4.6% q/q, $5.2M above the mid-point of $440M-460M guidance and $4.9M above the Street at $450.3M.”

CIEN closed at $11.95 per share on Friday.