UPDATE: Barclays Reiterates its Rating on Ciena; Raises Price Target
Barclays has published a report reiterating its Overweight rating on Ciena (NASDAQ: CIEN) while raising its price target to $20 from $18.
In the report, Barclays writes, "Expect resilient F3Q results toward high end of guidance: Despite a soft carrier capex environment, we believe the optical market is resilient and CIEN share gains will fuel above market growth. We expect F3Q sales to be close to the high end of guidance."
Ceina traded around $17 Friday, up about 45.5 percent year-to-date.
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