Professional
Added to YB: 2024-03-11
Pitch date: 2024-03-07
CIEN [bullish]
Ciena Corporation
+311.92%
current return
Author Info
No bio for this author
Company Info
Ciena Corporation, a network technology company, provides hardware, software, and services for various network operators in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and India.
Market Cap
$31.3B
Pitch Price
$53.03
Price Target
76.00 (-65%)
Dividend
N/A
EV/EBITDA
77.65
P/E
226.47
EV/Sales
6.93
Sector
Communications Equipment
Category
growth
Ciena Corporation: Demand recovery underway
CIEN: Argus reiterates BUY, targeting $76. Strong 1Q24 EPS & cloud/data center demand offset telco lags. Supply chain issues easing; WaveLogic 6 & metro edge growth ahead. FY23 +21% revenue; 5G/AI drive data traffic. Current dip seen as entry point; trades at discount despite YTD rally. Growth & margin expansion expected in FY24 back half.
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