Equities research analysts at Auriga boosted their price target on shares of Ciena Corp. (NASDAQ: CIEN) from $14.00 to $18.00 in a research note to clients and investors on Friday. The analysts currently have a “hold” rating on the stock.
Separately, analysts at UBS AG (NYSE: UBS) raised their price target on shares of Ciena Corp. to $19.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. They believe that the company’s sales momentum will continue through the new year.
Shares of Ciena Corp. (NASDAQ: CIEN) traded up 4.63% during mid-day trading on Friday, hitting $19.21. Ciena Corp. has a 52 week low of $10.53 and a 52 week high of $19.48. The stock’s 50-day moving average is $14.84 and its 200-day moving average is $14.17. On average, analysts predict that Ciena Corp. will post $0.02 EPS next quarter. The company has a market cap of $1.797 billion and a price-to-earnings ratio of N/A.
About Ciena Corp
Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video, and data traffic. The Company’s optical service delivery and carrier Ethernet service delivery products are used individually, or as part of an integrated solution, in communications networks operated by service providers, cable operators, governments and enterprises worldwide. It is a network specialist targeting the transition of disparate, legacy communications networks to converged, next-generation architectures, able to handle traffic and deliver a mix of high-bandwidth communications services. In March 2010, CIENA Corporation acquired the optical networking and Carrier Ethernet assets of Nortel Networks Corporation’s+ Metro Ethernet Networks (MEN) business.
