UPDATE: Jefferies Raises PT to $19.50 on CIENA Corporation on 10-Q Takeaways
Jefferies maintained CIENA Corporation (NASDAQ: CIEN) with a Hold rating and raised the price target from $14.50 to $16.50.
Jefferies analyst George C. Notter commented, "We remain concerned about longer term profitability and declining legacy products. At the same time, we still believe the business may get an intermediate-term boost as the 6500 / 5430 product cycles get traction with significant customers. In total, we see the current risk/reward as balanced."
CIENA Corporation closed at $16.99 on Monday.
Latest Ratings for CIEN
|Jul 2015||B. Riley||Initiates Coverage on||Buy|
|Jun 2015||RBC Capital||Maintains||Sector Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.