Ciena (CIEN) is Upgraded by Jefferies to Buy

Ciena (CIEN) is Upgraded by Jefferies to Buy , according to the research report released to the investors. Earlier the firm had a rating of Hold on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Ciena Corporation (NYSE:CIEN) : On Thursday heightened volatility was witnessed in Ciena Corporation (NYSE:CIEN) which led to swings in the share price. The shares opened for trading at $19.46 and hit $19.89 on the upside , eventually ending the session at $19.74, with a gain of 2.28% or 0.44 points. The heightened volatility saw the trading volume jump to 4,651,322 shares. The 52-week high of the share price is $26.5 and the company has a market cap of $2,660 million. The 52-week low of the share price is at $17.83 .

During the last several months other analysts have commented on the company rating. Morgan Stanley initiates coverage on Ciena Corporation (NYSE:CIEN) The brokerage firm has issued a Equal-weight rating on the shares. The Analysts at the ratings agency announces the price target to $25 per share. The rating by the firm was issued on October 9, 2015.

Research firm Zacks has rated Ciena Corporation (NYSE:CIEN) and has ranked it at 5, indicating that for the short term the shares are a strong sell. 17 Wall Street analysts have given the company an average rating of 1.59. The shares has received a hold rating based on the suggestion from 3 analysts in latest recommendations. Strong buy was given by 10 Wall Street Analysts. The company had a buy rating from 4 analysts.

Ciena Corporation (NYSE:CIEN): The stock price is expected to reach $ 27.09 in the short term. The number of analysts agreeing with this consensus is 14. The higher estimate for the short term price target is at $32 while the lower estimate is at $23. The standard deviation of the price stands at $2.94.

Ciena Corporation has lost 1.5% in the last five trading days and dropped 18.19% in the last 4 weeks. Ciena Corporation has dropped 10.8% during the last 3-month period . Year-to-Date the stock performance stands at 1.7%.

Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company’s packet-optical transport, packet-optical switching and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments and enterprises globally. Its communications networking products, through their embedded software and its network management software suites enable network operators to deliver enterprise communication services. The Company operates in four segments: packet-optical transport, packet-optical switching, carrier Ethernet Service delivery, and software and services. On March 19, 2010, the Company acquired optical networking and Carrier Ethernet assets of Nortel’s Metro Ethernet Networks business (MEN Business).