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UPDATE: Jefferies Upgrades Ciena Corporation to Hold on Balanced Risk/Reward

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Ciena and Cyan, Inc. Announce Termination of Hart-Scott-Rodino Waiting Period for Ciena's Acquisition of Cyan

Jefferies raised its rating on Ciena Corporation (NASDAQ: CIEN) from Underperform to Hold and increased its price target from $10 to $14.50.

Jefferies commented, "While we remain concerned about longer term profitability and declining legacy products, we acknowledge that the stock can continue to work near term. In total, we see the current risk/reward in the stock as balanced. Hence, we're upgrading to a Hold."

Ciena Corporation closed at $15.99 on Friday.

Latest Ratings for CIEN

DateFirmActionFromTo
Jul 2015B. RileyInitiates Coverage onBuy
Jun 2015RBC CapitalMaintainsSector Perform
Jun 2015CitigroupMaintainsNeutral

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