Raymond James analyst Simon Leopold maintained a Buy rating on Ciena Corp (CIEN) today and set a price target of $41. The company’s shares opened today at $34.45, close to its 52-week high of $36.55.
According to TipRanks.com, Leopold is a 4-star analyst with an average return of 6.4% and a 55.7% success rate. Leopold covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Applied Optoelectronics, and Lumentum Holdings.
Ciena Corp has an analyst consensus of Moderate Buy, with a price target consensus of $38.25, an 11.0% upside from current levels. In a report released today, Nomura also maintained a Buy rating on the stock with a $40 price target.
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Ciena Corp’s market cap is currently $4.99B and has a P/E ratio of 7.80. The company has a Price to Book ratio of 2.81.
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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.
