Cloud Should Be An Outsized Growth Driver For Ciena Across Fiscal 2025: Morgan Stanley Analyst
Portfolio Pulse from Anusuya Lahiri
Morgan Stanley analyst Meta Marshall upgraded Ciena Corp (NYSE:CIEN) from Equal-Weight to Overweight and raised the price target from $53 to $55, citing cloud demand and WaveLogic 6 ramp as key growth drivers for fiscal 2025.
June 12, 2024 | 5:29 pm
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Morgan Stanley upgraded Ciena Corp (NYSE:CIEN) from Equal-Weight to Overweight and raised the price target from $53 to $55. The analyst cited cloud demand and the WaveLogic 6 ramp as key growth drivers for fiscal 2025.
The upgrade from Equal-Weight to Overweight and the increase in the price target from $53 to $55 by Morgan Stanley is a strong positive signal for CIEN. The analyst's focus on cloud demand and the WaveLogic 6 ramp as key growth drivers for fiscal 2025 suggests significant upside potential. The market has already reacted positively, with CIEN shares trading higher by 4.03%.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100