Skip to main content

Market Overview

Why This Ciena Analyst Sees 'Opportunity For Meaningful Growth' Ahead

Share:
Why This Ciena Analyst Sees 'Opportunity For Meaningful Growth' Ahead

Ciena Corporation (NYSE: CIEN) is set up well for the coming quarters, with pent up demand for high-speed networks and the easing of supply chain headwinds, according to Morgan Stanley.

The Ciena Analyst: Meta Marshall upgraded Ciena from Equal-Weight to Overweight and raised the price target from $56 to $65.

The Ciena Takeaways: The supply chain issues seem to have bottomed in the second quarter and may improve in the back half of the year, Marshall said in the upgrade note.

With easing supply chain issues, Ciena faces “an opportunity for meaningful growth and re-rating” in 2023, the analyst said. 

Check out other analyst stock ratings.

“They have over $4bn of backlog, a relatively healthy service provider spending environment as investment in high-speed networks continue, and are share gainers as they finally deploy new deals,” she said. 

With new deployments underway, “we are mindful that gross margins are not likely to achieve FY20/FY21 levels; however, operating leverage gained from that time period can continue to generate double digit earnings growth in the coming years,” Marshall further stated.

CIEN Price Action: Shares of Ciena were trading 3.06% higher at $54.51 late Friday morning. 

Latest Ratings for CIEN

DateFirmActionFromTo
Mar 2022Raymond JamesMaintainsOutperform
Jan 2022Raymond JamesMaintainsOutperform
Dec 2021NeedhamMaintainsBuy

View More Analyst Ratings for CIEN

View the Latest Analyst Ratings

 

Related Articles (CIEN)

View Comments and Join the Discussion!

Posted-In: Meta Marshall Morgan StanleyAnalyst Color Upgrades Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com