Ciena shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $53 to $55.
Portfolio Pulse from Benzinga Newsdesk
Ciena shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $53 to $55.
June 12, 2024 | 5:22 pm
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Morgan Stanley upgraded Ciena from Equal-Weight to Overweight and increased its price target from $53 to $55, leading to a rise in Ciena's share price.
The upgrade from a major financial institution like Morgan Stanley typically boosts investor confidence, leading to a positive short-term impact on the stock price. The raised price target also suggests a favorable outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100