Citi analyst Atif Malik maintains $Ciena (CIEN.US)$ with a buy rating, and adjusts the target price from $68 to $84.
According to TipRanks data, the analyst has a success rate of 73.2% and a total average return of 33.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ciena (CIEN.US)$'s main analysts recently are as follows:
The firm is enhancing its sales and earnings projections for FY26 by 3% and 4%, respectively, highlighting the increased adoption of pluggables in and around the data center, an opportunity not included in the previous 6%-8% growth forecast. The potential for the company is viewed more positively due to expanding opportunities, including AI, which could justify a reduced discount compared to its networking peers.
The firm forecasts a recovery in telecom optical spending, which had been subdued in the first half of FY24. With encouraging signs of sequential demand improvement in key market segments - Webscale and Telco, positive sentiment remains high for Ciena. It has been observed that Ciena's customer inventories across these segments are stabilizing, and a recent achievement could potentially enhance its market share in FY25.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.