Needham analyst Alex Henderson maintained a Buy rating on Ciena Corp (NYSE: CIEN) today and set a price target of $33. The company’s shares opened today at $31.58, close to its 52-week high of $32.33.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.3% and a 55.2% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Lumentum Holdings, and Ceragon Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ciena Corp with a $34.23 average price target, implying an 8.4% upside from current levels. In a report issued on August 27, B.Riley FBR also maintained a Buy rating on the stock with a $31.50 price target.
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The company has a one-year high of $32.33 and a one-year low of $19.40. Currently, Ciena Corp has an average volume of 2.68M.
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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.
