There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Ciena (CIEN) and Axcelis Technologies (ACLS) with bullish sentiments.
Needham analyst Alex Henderson assigned a Buy rating to Ciena today and set a price target of $65.00. The company’s shares closed last Tuesday at $54.20.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 29.5% and a 67.5% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Acacia Communications.
Ciena has an analyst consensus of Moderate Buy, with a price target consensus of $52.67, representing a -0.1% downside. In a report issued on January 7, Stifel Nicolaus also maintained a Buy rating on the stock with a $62.00 price target.
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Axcelis Technologies (ACLS)
Benchmark Co. analyst Mark Miller maintained a Buy rating on Axcelis Technologies yesterday and set a price target of $38.00. The company’s shares closed last Tuesday at $31.63, close to its 52-week high of $32.36.
According to TipRanks.com, Miller is a top 100 analyst with an average return of 25.9% and a 71.3% success rate. Miller covers the Technology sector, focusing on stocks such as Western Digital, MKS Instruments, and Onto Innovation.
Currently, the analyst consensus on Axcelis Technologies is a Strong Buy with an average price target of $36.00.
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