Needham Maintains Buy Rating for Ciena: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Needham has maintained its Buy rating for Ciena (NYSE:CIEN) and increased its price target from $50.00 to $60.00. This new target price represents a 23.27% increase from the current share price. Despite this, Ciena's shares have traded down 2.61% over the last 24 hours.
September 01, 2023 | 5:01 pm
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Needham has maintained its Buy rating for Ciena and raised its price target, indicating a positive outlook for the company. However, Ciena's shares have been trading down recently.
The maintained Buy rating and increased price target from Needham indicate a positive outlook for Ciena. This could potentially attract investors and drive the stock price up. However, the recent dip in Ciena's shares suggests some market uncertainty, which could impact the short-term performance of the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100