Evercore ISI Group Downgrades Ciena to In-Line, Maintains Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group has downgraded Ciena (NYSE:CIEN) from Outperform to In-Line, while maintaining the price target at $65.
October 15, 2024 | 1:15 pm
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NEGATIVE IMPACT
Evercore ISI Group has downgraded Ciena from Outperform to In-Line, maintaining the price target at $65. This downgrade may affect investor sentiment negatively in the short term.
The downgrade from Outperform to In-Line by a reputable analyst group like Evercore ISI can lead to a negative sentiment among investors, potentially causing a short-term decline in Ciena's stock price. The maintained price target suggests no change in the long-term outlook, but the downgrade itself is likely to weigh on the stock in the near term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100