Morgan Stanley Downgrades Ciena to Equal-Weight, Maintains Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded Ciena (NYSE:CIEN) from Overweight to Equal-Weight, while maintaining the price target at $63.
October 28, 2024 | 11:44 am
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NEUTRAL IMPACT
Morgan Stanley has downgraded Ciena from Overweight to Equal-Weight, maintaining the price target at $63. This suggests a neutral stance on the stock's potential performance.
The downgrade from Overweight to Equal-Weight by Morgan Stanley indicates a shift from a positive to a neutral outlook on Ciena's stock. However, the maintained price target suggests no expected change in valuation, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100