US1717793095 - Common Stock
Here’s what could be next for the AI network provider.
Ciena Corp (NYSE:CIEN) stock surged after BofA Securities upgraded it from Neutral to Buy and raised its price target from $70 to $95. Needham analyst Ryan Koontz maintained Ciena with a Buy and raised the price target from $80 to $95. Additionally, Northland Capital Markets, and Stifel raised their respective price targets on the stock. On Thursday, Ciena reported a fiscal fourth-quarter 2024 revenue decline of 0.5% to $1.12 billion, beating the analyst estimate of $1.10 billion. The adjusted E
The Nasdaq held at highs, but the broader market struggled as yields jumped.
The optical networking expert didn't hit fourth-quarter results out of the ballpark, but it did set up ambitious goals for the years ahead.
Thursday's session: gap up and gap down stocks
IBD's Telecom-Fiber Optics group is now ranked No. 3 out of 197.
AI could give this optical networking company a big boost.