There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Ciena (CIEN) and Verint Systems (VRNT) with bullish sentiments.
Ciena (CIEN)
Jefferies analyst George Notter reiterated a Buy rating on Ciena today and set a price target of $70.00. The company’s shares closed last Wednesday at $60.08, close to its 52-week high of $61.52.
According to TipRanks.com, Notter is a 5-star analyst with an average return of 17.7% and a 67.2% success rate. Notter covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Motorola Solutions, and Cambium Networks.
Ciena has an analyst consensus of Strong Buy, with a price target consensus of $63.79, implying a 6.2% upside from current levels. In a report issued on June 1, Evercore ISI also maintained a Buy rating on the stock with a $60.00 price target.
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Verint Systems (VRNT)
Jefferies analyst Samad Samana maintained a Buy rating on Verint Systems yesterday and set a price target of $55.00. The company’s shares closed last Wednesday at $46.25.
According to TipRanks.com, Samana is a 5-star analyst with an average return of 25.3% and a 67.2% success rate. Samana covers the Technology sector, focusing on stocks such as Automatic Data Processing, Avid Technology, and Par Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verint Systems with a $62.38 average price target, implying a 34.9% upside from current levels. In a report issued on June 2, Evercore ISI also initiated coverage with a Buy rating on the stock with a $75.00 price target.
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