Jefferies & Company Reiterates Hold Rating, $14.50 PT on Ciena Corporation

In a report published Friday, Jefferies & Company reiterated its Hold rating and $14.50 price target on Ciena Corporation CIEN. Jefferies noted, “Ciena printed fiscal Q4 results that were slightly lower than consensus. While we remain concerned about longer term profitability and declining legacy products, we still believe the business may get an intermediate-term boost as the 6500 / 5430 product cycles get traction with significant customers. Nonetheless, we still think the risk/reward is balanced.” Ciena Corporation closed on Thursday at $15.80.