Ciena Corp (NYSE:CIEN) generated “impressive” earnings growth on record orders and strong operating leverage, according to Rosenblatt Securities.
The Ciena Analyst: Analyst Mike Genovese reaffirmed a Neutral rating, while raising the price target from $100.00 to $127.50.
The Ciena Thesis: The company’s third-quarter revenues grew 29% year-on-year and 8% sequentially, coming in higher than Rosenblatt Securities’ estimate by around $50 million, Genovese said in the note.
Check out other analyst stock ratings.
Ciena reported record high quarterly orders, driven mainly by strong …