B of A Securities Downgrades Ciena to Neutral, Announces $59 Price Target
Portfolio Pulse from Benzinga Newsdesk
B of A Securities has downgraded Ciena (NYSE:CIEN) from Buy to Neutral, setting a price target of $59.
September 05, 2024 | 7:57 pm
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B of A Securities has downgraded Ciena from Buy to Neutral, with a new price target of $59. This downgrade may affect investor sentiment and could lead to short-term price fluctuations.
The downgrade from Buy to Neutral by a major analyst like B of A Securities typically signals a less optimistic outlook, which can lead to a decrease in investor confidence and potential selling pressure. The $59 price target suggests limited upside potential, reinforcing the neutral stance.
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IMPORTANCE 80
RELEVANCE 100