Evercore analyst Amit Daryanani turned bullish on Ciena (CIEN) shares today, saying they are an “attractive way to gain exposure to the optical networking space.” In a note to clients dated Sept. 21, Daryanani upgraded the Hanover-headquartered company to “Outperform” and raised his price target to $550, indicating potential upside of more than 50% from here.
The bullish report arrives at a time when Ciena stock has fallen out of favor with investors, currently down about 45% versus its year-to-date high.
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