Ciena's price target lowered

Investor's Business Daily

BMO Capital Markets upgraded the fiber-optic parts maker to outperform from market perform, but lowered the price target to 26 from 28 as the company's "top line and order trends remain solid, but things are still not translating to meaningful earnings growth." FBR Capital Markets, RBC Capital Markets and UBS lowered their price targets on Ciena (CIEN). Last week the company announced it missed Q4 earnings targets and forecast current-quarter sales below views. Shares rose 0.6% to 21.80.

View Comments (0)