Stifel analyst Ruben Roy maintains $Ciena (CIEN.US)$ with a buy rating, and adjusts the target price from $68 to $75.
According to TipRanks data, the analyst has a success rate of 66.5% and a total average return of 20.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ciena (CIEN.US)$'s main analysts recently are as follows:
The recent AI/data center webcast by Ciena highlighted the positive aspects of the bullish scenario, specifically the acceleration of data growth fueled by AI and the integration of coherent technology into data centers. There are tangible growth prospects for Ciena in the intra/around data center segments, especially if this advancement leads to data growth surpassing the 25%-30% mark.
Following a recorded webcast that highlighted Ciena's growing prospects and its strategic approach to growth in the AI/data center sectors, additional insights were gained during a subsequent Q&A session with management. The company is seen as well-positioned to benefit from the recovery in telecom service provider markets and is anticipated to gain from the expansion of DCI/internal data center interconnect segments.
The company's prospects within artificial intelligence are viewed as more of a long-term growth opportunity rather than an immediate driver of performance. The recent surge in optimism is believed to already be reflected in current estimates, prompting a more cautious approach to the stock until a more favorable risk/reward scenario presents itself.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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