Stifel raises Ciena stock price target to $320 on strong results

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump replaces Homeland Security chief Kristi Noem Oil extends weekly gains as Iran conflict rages on, with crude surging around 20% Gold prices dip as stronger dollar weighs; Iran conflict remains in focus Dollar resumes climb on safe haven demand as Iran conflict rages on (South Africa Philippines Nigeria) Stifel raises Ciena stock price target to $320 on strong results By Analyst Ratings Published 03/05/2026, 03:47 PM Stifel raises Ciena stock price target to $320 on strong results 0 CIEN -12.94% Investing.com - Stifel raised its price target on Ciena Corp. shares (NYSE:CIEN) to $320 from $280 while maintaining a Buy rating on Wednesday. The telecommunications equipment maker reported first-quarter results that exceeded expectations, with revenue of $1.43 billion, adjusted gross margin of 44.7%, and adjusted earnings per share of $1.35. Consensus estimates had called for revenue of $1.40 billion, adjusted gross margin of 43.4%, and adjusted earnings per share of $1.17.The strong results have fueled remarkable momentum, with shares delivering a 357% return over the past year and climbing 47% year-to-date. However, InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value, placing it among the most overvalued stocks in the market. Growth was driven by optical revenue, which increased more than 40% year-over-year, supported by initial WL6n 800G revenue and record RLS shipments. The company’s MOFN segment also showed strength, with India orders growing more than 40% year-over-year. Backlog increased by approximately $2.0 billion sequentially. Management raised fiscal 2026 guidance to $6.10 billion, representing 28% year-over-year growth compared to 24% in the prior guidance. Stifel noted the growth outlook appears conservative given second-half performance expectations and cited supply chain constraints as a factor in the cautious approach. The firm expects volume growth, pric...