Upgrade Alert for Ciena (CIEN)
Ciena (NASDAQ:CIEN) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $22.50 on volume of 3.5 million shares, above average daily volume of 2.8 million.
Ciena Corporation develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom and cable/MSO services providers, and enterprise and government networks.
There is potential upside of 28.0% for shares of Ciena based on a current price of $22.50 and an average consensus analyst price target of $28.79. The stock should find initial support at its 200-day moving average (MA) of $20.90 and further support at its 50-day MA of $17.93.
Ciena share prices have moved between a 52-week high of $26.50 and a 52-week low of $15.62 and closed yesterday at 44% above that low price at $22.50 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.6%.
SmarTrend is monitoring the recent change of momentum in Ciena. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ciena in search of a potential trend change.
Keywords: analyst upgrades/downgrades Ciena