B. Riley Securities Maintains Buy on Ciena, Lowers Price Target to $66
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities has maintained its Buy rating on Ciena (NYSE:CIEN) but lowered the price target from $68 to $66.
June 07, 2024 | 1:00 pm
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NEUTRAL IMPACT
B. Riley Securities has maintained its Buy rating on Ciena but lowered the price target from $68 to $66. This indicates continued confidence in the company's performance, albeit with slightly tempered expectations.
The maintained Buy rating suggests that the analyst still sees potential for growth in Ciena's stock, but the lowered price target indicates a slight reduction in expected upside. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100