Ciena's Stock Poised For Double-Digit Growth As Demand Outweighs Supply Constraints, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Alex Henderson reiterated a Buy rating on Ciena Corporation (NYSE:CIEN) and lowered the price target to $60 from $70. The company's strong demand and improving supply chain are expected to result in double-digit growth, GM expansion, and significant operating leverage. Ciena is also expected to execute large buybacks, providing additional support for its stock.
June 07, 2023 | 6:41 pm
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Ciena Corporation (NYSE:CIEN) is expected to experience double-digit growth due to strong demand and an improving supply chain. Needham analyst Alex Henderson reiterated a Buy rating and lowered the price target to $60.
The article states that Ciena Corporation is expected to experience double-digit growth due to strong demand and an improving supply chain. The analyst from Needham reiterated a Buy rating on the stock and lowered the price target to $60. This positive outlook on the company's growth and the Buy rating suggest a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100