Ciena (CIEN) Stock Price: $65 Target And Buy Rating

By Amit Chowdhry ● Jun 18, 2022
  • The shares of Ciena Corporation (NYSE: CIEN) have received a $65 price target from Citi. These are the details.

The shares of Ciena Corporation (NYSE: CIEN) have received a $65 price target from Citi. And Citi analyst Jim Suva is maintaining a “Buy” rating on the shares. 

Suva adjusted the rating while noting that it was well expected by investors that Ciena would guide down given the well-known supply chain issues. And this is evident in the stock trading down only slightly despite a 17% lower sales guidance following the earnings. 

Plus Suva sees better visibility for future orders which should help margins as the supply constraints eventually improve. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.