UPDATE: Jefferies Upgrades Ciena Corporation to Hold on Balanced Risk/Reward
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
|Jan 2017||UBS||Initiates Coverage On||Buy|
|Dec 2016||PiperJaffray||Initiates Coverage On||Overweight|
|Nov 2016||Deutsche Bank||Upgrades||Hold||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.