Ciena's Growth Trajectory Improving, BofA Says in Upgrade

MT Newswires Live

Dec 14, 2024

Ciena's (CIEN) three-year outlook is better than expected amid accelerating order momentum, BofA Securities said in a note Friday.

"Stabilizing demand at North American SPs and Hyperscalers' AI bandwidth needs is driving accelerated order momentum," BofA said in the report. SPs refer to service providers.

"The 3-year outlook seems brighter than we had anticipated, and we model 9.5% FY25 revenue growth vs. our prior 8% estimate."

Ciena is also increasing its share of the optical networking market outside of China, the report said, adding that it holds around 60% of the 800G coherent optical equipment ports, a market that is set to grow substantially.

BofA upgraded the stock to buy from neutral and raised its price objective to $95 from $70.

Price: 90.01, Change: +5.49, Percent Change: +6.50

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SPs refer to service providers.</p><p>\"The 3-year outlook seems brighter than we had anticipated, and we model 9.5% FY25 revenue growth vs. our prior 8% estimate.\"</p><p>Ciena is also increasing its share of the optical networking market outside of China, the report said, adding that it holds around 60% of the 800G coherent optical equipment ports, a market that is set to grow substantially.</p><p>BofA upgraded the stock to buy from neutral and raised its price objective to $95 from $70.</p><p>Price: 90.01, Change: +5.49, Percent Change: +6.50</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CIEN","symbol_name":"Ciena科技","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2491593370","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491593370","pubTimestamp":1734108405,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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