Ciena Analyst Predicts Gains From Strong Bandwidth Growth
Portfolio Pulse from Priya Nigam
Shares of Ciena Corporation (NYSE:CIEN) rose in early trading on Thursday following a positive outlook from Stifel analyst Ruben Roy. Despite a weakened capex environment for telecom and cable operators, Roy believes Ciena will benefit from increasing capex of cloud service providers and the growing complexity of network architecture. He initiated coverage of Ciena with a Buy rating and a price target of $62.
September 28, 2023 | 3:46 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AT&T Inc. was mentioned as one of the large US customers of Ciena Corporation. The capex environment for telecom and cable operators like AT&T has weakened.
The weakened capex environment for telecom and cable operators like AT&T Inc. could potentially impact the company's financial performance and its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Verizon Communications Inc. was mentioned as one of the large US customers of Ciena Corporation. The capex environment for telecom and cable operators like Verizon has weakened.
The weakened capex environment for telecom and cable operators like Verizon Communications Inc. could potentially impact the company's financial performance and its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ciena Corporation's stock rose following a positive outlook from Stifel analyst Ruben Roy. He believes the company will benefit from strong bandwidth growth and increasing capex of cloud service providers.
The positive outlook from the Stifel analyst, including a Buy rating and a $62 price target, is likely to boost investor confidence in Ciena Corporation, leading to a potential increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100