Jefferies raised its rating on Ciena Corporation 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in