Ciena price target raised to $82 from $75 at Stifel

Stifel raised the firm’s price target on Ciena (CIEN) to $82 from $75 and keeps a Buy rating on the shares. Ahead of the company’s fiscal Q4 report due before market open on December 12, the firm says it expects October quarter revenues in-line to slightly above consensus estimates and expects in-line January quarter guidance along with FY25 guidance within the range of management’s longer-term growth forecast. The firm notes its raised target reflects expectations for sustained demand improvement ahead in calendar 2025.