Ciena Corp Receives a Buy from Stifel Nicolaus

By Austin Angelo

In a report released yesterday, Patrick Newton from Stifel Nicolaus reiterated a Buy rating on Ciena Corp (NYSE: CIEN), with a price target of $30. The company’s shares closed yesterday at $21.61.

According to TipRanks.com, Newton is a 5-star analyst with an average return of 21.0% and a 59.8% success rate. Newton covers the Consumer Goods sector, focusing on stocks such as Keysight Technologies, Ipg Photonics Corp, and Faro Technologies.

Currently, the analyst consensus on Ciena Corp is Strong Buy and the average price target is $32.25, representing a 49.2% upside.

In a report issued on August 17, Cowen & Co. also reiterated a Buy rating on the stock with a $36 price target.

Ciena Corp’s market cap is currently $3.06B and has a P/E ratio of 28.43. The company has a book value ratio of 3.6190.

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Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.