B.Riley FBR analyst Dave Kang maintained a Buy rating on Ciena (CIEN) today and set a price target of $56.00. The company’s shares closed last Monday at $34.61.
According to TipRanks.com, Kang is a 5-star analyst with an average return of 19.4% and a 63.9% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, DASAN Zhone Solutions, and Acacia Communications.
Ciena has an analyst consensus of Moderate Buy, with a price target consensus of $48.78, a 39.2% upside from current levels. In a report issued on December 2, Cowen & Co. also reiterated a Buy rating on the stock with a $54.00 price target.
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Ciena’s market cap is currently $5.35B and has a P/E ratio of 24.36. The company has a Price to Book ratio of 2.53.
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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.
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