BMO Capital Issues a Buy Rating on Ciena Corp


In a report released today, Tim Long from BMO Capital assigned a Buy rating to Ciena Corp (NYSE: CIEN), with a price target of $32. The company’s shares opened today at $24.63.

According to TipRanks.com, Long is a 5-star analyst with an average return of 20.0% and a 68.1% success rate. Long covers the Consumer Goods sector, focusing on stocks such as Comtech Telecommunications, Hewlett Packard Enterprise, and Motorola Solutions.

Currently, the analyst consensus on Ciena Corp is Strong Buy and the average price target is $31.67, representing a 28.6% upside.

In a report issued on May 23, Loop Capital Markets also initiated coverage with a Buy rating on the stock with a $31 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $27.98 and a one-year low of $19.40. Currently, Ciena Corp has an average volume of 3.4M.

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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.

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