April 15, 2019 / 2:22 PM / 6 months ago

BUZZ-Ciena Corp: Shares up after brokerage upgrade, PT raise

** Shares of telecom equipment maker up 2.68% at $39.01 in early Monday trade

** Northland Capital upgrades CIEN to “outperform” from “market perform”; raises PT by $8 to $42

** Analyst Tim Savageau says the company’s potential tailwinds include the overall uptick in capex in CY19, the move toward 5G in the US and globally pulling-along optical connectivity, among other factors

** 13 of 21 brokerages rate the stock “buy” or higher and 8 “hold”; Median PT is $45.50

** Including sessions gains, CIEN had risen 15%; shares rose 62% in 2018 (Reporting by Sayanti Chakraborty in Bengaluru)

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