Ciena upgraded to Outperform; price target raised to $550
Evecore ISI analyst Amit Daryanani upgraded Ciena to Outperform from In Line and raised his price target to $550, citing optical networking becoming critical for the AI buildout. Shares advanced Monday on the upgrade.
Shares of Ciena rose Monday after the company was upgraded as optical networking has become a key issue in the artificial-intelligence buildout. Evercore ISI analyst Amit Daryanani on Monday lifted Ciena to Outperform from In Line and increased his price target to $550 from an earlier level.