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Jefferies Maintains Ciena(CIEN.US) With Buy Rating, Raises Target Price to $80

Moomoo News ·  Oct 9 08:37  · Ratings

Jefferies analyst George Notter maintains $Ciena (CIEN.US)$ with a buy rating, and adjusts the target price from $65 to $80.

According to TipRanks data, the analyst has a success rate of 65.9% and a total average return of 11.8% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Ciena (CIEN.US)$'s main analysts recently are as follows:

  • Ciena's recent AI/data center webcast highlighted the positive aspects of the bullish perspective, specifically the role of AI in expediting data growth and the integration of coherent technology within data centers. The company is perceived to have significant growth prospects, especially in intra and around data center operations, which could surpass expectations if data growth rates reach or exceed 25%-30%.

  • Following a webcast that highlighted Ciena's growing prospects and strategic plans for expansion in AI/data center markets, a discussion session yielded further insights. It is perceived that Ciena stands to benefit from the revival of telecom service provider markets and is also seen as a long-term beneficiary of the growth in DCI/internal data center interconnects.

  • The firm suggests that Ciena's prospects with artificial intelligence are considered to be more of a long-term potential rather than an immediate growth driver. The recent surge in optimism is believed to be already reflected in current projections, and the firm prefers to look for a more favorable risk/reward scenario before proceeding with the shares.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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