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Analysts Bullish on Ciena (CIEN) Despite Post-Earnings Sell-Off
Analysts Bullish on Ciena (CIEN) Despite Post-Earnings Sell-Off
BTCCSquare news:
Ciena's stock tumbled 13% post-earnings despite surpassing revenue and EPS estimates, triggering analyst upgrades. Bank of America raised its target to $355, citing robust cloud infrastructure demand. Rosenblatt maintained its Buy rating, highlighting margin expansion in data center interconnect segments.
The networking firm reported $1.43 billion Q1 revenue with a $7 billion order backlog, suggesting strong future demand. Market reaction appeared disconnected from fundamentals, creating what analysts call a prime buying opportunity in the tech infrastructure space.
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