Morgan Stanley raises Ciena stock price target on margin strength

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil extends weekly gains as Iran conflict rages on, with crude surging around 18% Trump replaces Homeland Security chief Kristi Noem Wall Street ends lower on escalating Iran conflict, report of AI export curbs Gold prices dip as stronger dollar weighs; Iran conflict remains in focus (South Africa Philippines Nigeria) Morgan Stanley raises Ciena stock price target on margin strength By Analyst Ratings Published 03/05/2026, 05:54 PM Morgan Stanley raises Ciena stock price target on margin strength 0 CIEN -12.88% Investing.com - Morgan Stanley raised its price target on Ciena Corp. (NYSE:CIEN) to $286 from $280 while maintaining an Equalweight rating on the stock. The shares currently trade at $299, up nearly 298% over the past year, though the stock’s current price sits below the consensus analyst high target of $380. The company’s first-quarter revenue came in at the high end of guidance, driven by strong data center interconnect demand that grew 76% year-over-year and represented 42% of total revenue. Margins exceeded expectations as the company capitalized on operating expense efficiencies and favorable gross margin mix. With revenue of $4.77 billion over the last twelve months and a gross profit margin of 42%, the company maintains a healthy current ratio of 2.73. Morgan Stanley increased its estimates as data center demand continues to exceed expectations. The firm noted that Ciena continues to gain market share despite no named customer wins announced in the quarter. The firm’s new second-quarter and fiscal 2026 non-GAAP revenue and earnings per share estimates are $1,499 million and $1.39, and $6,101 million and $5.80, respectively. Previous estimates were $1,401 million and $1.16, and $5,900 million and $5.15. Morgan Stanley’s base case price target of $286 represents approximately 32 times fiscal 2028 estimated earnings per share of $8.95. According to InvestingPro analysis, the stock is currently ove...