Raymond James Downgrades Ciena to Outperform, Lowers Price Target to $54
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Simon Leopold has downgraded Ciena (NYSE:CIEN) from Strong Buy to Outperform and lowered the price target from $59 to $54.
June 06, 2024 | 4:26 pm
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Raymond James has downgraded Ciena from Strong Buy to Outperform and reduced the price target from $59 to $54, indicating a less bullish outlook.
The downgrade from Strong Buy to Outperform and the reduction in the price target suggest a less optimistic view on Ciena's short-term performance, likely leading to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100