Ciena price target raised to $75 from $68 at Stifel

Stifel analyst Ruben Roy raised the firm’s price target on Ciena to $75 from $68 and keeps a Buy rating on the shares. Following a recorded webcast which focused on Ciena’s expanding opportunity and longer-term strategy for growth in AI/data center markets, management engaged in a Q&A session that provided additional detail, the analyst noted. Stifel continues to view Ciena as well-positioned for a recovery in the telecom service provider end markets and as a longer-term beneficiary of DCI/internal data center interconnect growth, the analyst tells investors.