Ciena price target raised to $97 from $67 at Barclays

Barclays raised the firm’s price target on Ciena (CIEN) to $97 from $67 and keeps an Overweight rating on the shares. Management issued fiscal 2025 and long-term guidance above estimates, moving from 6%-8% long-term growth to 8%-11%, the analyst tells investors in a research note. The firm says that while margins are moving down in the near term, with Ciena expected to ship the most line systems ever this year, the fiscal 2025 margin headwind should be a 2026 tailwind as line cards are added.