Evercore upgrades Ciena to Outperform, lifts PT to $550
Evercore ISI raised its Ciena (CIEN) rating to ‘Outperform’ from ‘In Line’ and increased its price target to $550 from $375, implying 58% upside from the current level.
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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.