Ciena price target raised to $85 from $65 at Evercore ISI

Evercore ISI analyst Amit Daryanani raised the firm’s price target on Ciena (CIEN) to $85 from $65 and keeps an In Line rating on the shares. The firm notes the company reported mixed October-quarter results. Stock is clearly reacting in a positive manner given better than expected FY25 and long-term guide provided by the company, says Evercore. The firm thinks Ciena could end-up with $5-plus EPS run-rate over the next 3 years in a bull case scenario and that could place the upside to over $100.