There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Ciena (CIEN), Salesforce (CRM) and Transdigm Group (TDG) with bullish sentiments.
Ciena (CIEN)
Jefferies analyst George Notter reiterated a Buy rating on Ciena yesterday and set a price target of $70.00. The company’s shares closed last Thursday at $58.38, close to its 52-week high of $61.52.
According to TipRanks.com, Notter is a 5-star analyst with an average return of 17.8% and a 67.3% success rate. Notter covers the Technology sector, focusing on stocks such as Motorola Solutions, Cambium Networks, and Cisco Systems.
Ciena has an analyst consensus of Strong Buy, with a price target consensus of $63.07, which is an 8.8% upside from current levels. In a report issued on May 23, Raymond James also maintained a Buy rating on the stock with a $56.00 price target.
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Salesforce (CRM)
Jefferies analyst Brent Thill maintained a Buy rating on Salesforce yesterday and set a price target of $300.00. The company’s shares closed last Thursday at $230.84.
According to TipRanks.com, Thill is a 5-star analyst with an average return of 22.5% and a 68.1% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and CrowdStrike Holdings.
Currently, the analyst consensus on Salesforce is a Strong Buy with an average price target of $274.42, which is a 17.8% upside from current levels. In a report issued on May 19, Morgan Stanley also upgraded the stock to Buy with a $270.00 price target.
Transdigm Group (TDG)
Jefferies analyst Sheila Kahyaoglu maintained a Buy rating on Transdigm Group today and set a price target of $710.00. The company’s shares closed last Thursday at $660.75, close to its 52-week high of $665.71.
According to TipRanks.com, Kahyaoglu is a 4-star analyst with an average return of 11.1% and a 67.8% success rate. Kahyaoglu covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, L3Harris Technologies, and Raytheon Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Transdigm Group with a $688.13 average price target.
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