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.
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