Ciena downgraded to Neutral from Outperform at Exane BNP Paribas

Exane BNP Paribas analyst Karl Ackerman downgraded Ciena to Neutral from Outperform with a price target of $67, up from $59. The firm says the company’s artificial intelligence opportunities are more longer-term rather than a near-term catalyst. The “recent enthusiasm is already accounted for” in estimates, says Exane, which priers to await a better risk/reward into the shares.