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Saturday, September 3, 2011

Price target shares of Ciena (NASDAQ: CIEN)

Price target shares of Ciena (NASDAQ: CIEN) ; Equities research analysts at Citigroup (NYSE: C) raised their price target on shares of Ciena (NASDAQ: CIEN) to $18.00 in a research issued note to investors on Friday. They currently have a “buy” rating on the company’s shares.

Separately, analysts at Morgan Keegan reiterated a “market perform” rating on shares of Ciena in a research note to investors on Thursday. Also, analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Ciena from $30.00 to $22.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock.

Shares of Ciena traded down 6.32% during mid-day trading on Monday, hitting $13.78. Ciena has a 52 week low of $10.33 and a 52 week high of $29.24. The stock’s 50-day moving average is $13.68 and its 200-day moving average is $21.45. The company has a market cap of $1.318 billion.

Ciena Corp. last announced its quarterly results on Thursday, September 1st. The company reported $0.08 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.09) EPS by $0.17. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Ciena will post $0.10 EPS next quarter.

About Ciena Corporation
Ciena Corporation 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 optical service delivery and carrier Ethernet service delivery products are used individually, or as part of an integrated solution, in communications networks operated by service providers, cable operators, governments and enterprises worldwide. It is a network specialist targeting the transition of disparate, legacy communications networks to converged, next-generation architectures, able to handle traffic and deliver a mix of high-bandwidth communications services. In March 2010, CIENA Corporation acquired the optical networking and Carrier Ethernet assets of Nortel Networks Corporation’s+ Metro Ethernet Networks (MEN) business.

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