Ciena Sees 'Early Signs Of A Recovery,' 3 Analysts Dive Into Q2 Results
Portfolio Pulse from Priya Nigam
Ciena Corp (NYSE:CIEN) reported upbeat fiscal Q2 results but saw a 4.82% decline in share price to $46.21. Analysts from B Riley, Needham, and JPMorgan maintained positive ratings but lowered price targets. The company sees early signs of recovery despite lowering its fiscal third-quarter and full-year guidance.
June 07, 2024 | 4:44 pm
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Ciena Corp reported better-than-expected Q2 earnings but lowered its fiscal third-quarter and full-year guidance. Analysts maintained positive ratings but reduced price targets, citing early signs of recovery and challenges in the near term.
Despite reporting better-than-expected Q2 earnings, Ciena's lowered guidance for the next quarter and full year has led to a mixed market reaction. Analysts maintain positive ratings but have reduced price targets, indicating cautious optimism. The early signs of recovery are a positive note, but the near-term challenges and lowered guidance have tempered investor enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100