Ciena (NASDAQ: CIEN) Leaps 10.4% on Upgrade at Cowen & Co.

Shares of Ciena Corp. (NASDAQ:CIEN) are trading 10.4% higher to $15.42 Friday after the fiber-optic network gear maker was upgraded to outperform from neutral at Cowen & Co.

The firm believes Ciena's acquisition of Blackrock MuniEnhanced Fund (NYSE:MEN) is transformative and will accelerate top line growth.