AllAnalyst Report
logoArgusSeptember 09, 2020

Ciena Corporation: Caution ahead; reiterating BUY

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Ciena participates in optical transport and switching, converged optical Ethernet solutions, carrier Ethernet, and global services for its customers. The addition of Nortel MEN in March 2010 more than doubled the revenue base. Ciena operates in three segments: Network Platforms, representing 75%-80% of revenue; Software & Related Services, 6%-8% of revenue; and Global Services, 12%-14% of revenue.

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Analyst Profile

James Kelleher, CFA

Director of Research & Senior Analyst Technology
Jim has worked in the financial services industry for over 25 years and joined Argus in 1993. He is director of research at Argus and a member of the Investment Policy Committee. Jim has been instrumental in building Argus' proprietary valuation models, which are a key part of the proprietary Argus Six-Point Rating System. He also oversees Argus' technical analysis products; writes the Portfolio Selector report and other publications; and manages several Argus model portfolios. As a Senior Analyst, Jim covers Communications Equipment, Semiconductors, Information Processing and Electronic Manufacturing Services companies. he is a CFA charter-holder, and is a three-time winner in The Wall Street Journal's "Best on the Street" All-Star Analyst Survey. In July 2010, McGraw-Hill Professional published Jim's book, "Equity Valuation for Analysts & Investors." The book, a single-volume treatment of financial modeling and valuation process, introduces the Argus proprietary valuation methodology known as Peer Derived Value.