TD Cowen raised its price target for Ciena Corp. to $675 from $425. The firm maintained a Buy rating and designated the stock as a top pick.
Analysts identified long-term growth in optical transport investment as the primary catalyst. The firm noted near-term caution regarding investor expectations ahead of the upcoming earnings report.
Stifel increased its price target to $585 based on projected AI infrastructure demand. BofA Securities raised its target to $550, citing a significant backlog and hyperscale data center spending.
Rothschild Redburn recently initiated coverage on the stock with a Neutral rating.