BofA Raises Ciena (CIEN) Price Target to $155, Reaffirms Buy

Ciena Corp. (NYSE:CIEN) is one of the best performing data center stocks to buy now. On September 17, Bank of America analyst Tal Liani raised his price target on Ciena Corp. (NYSE:CIEN) to $155 from $135 while maintaining a Buy rating. His reason for raising the price target was based on accelerating cloud momentum and strong secular demand for optical equipment.

The call comes ahead of Ciena’s upcoming Investor Innovation Day on September 25, where management is expected to outline its long-term strategy.

Liani had already boosted his target earlier this month, from $95 to $135 on September 5, after Ciena delivered Q3 results that exceeded Street expectations. Management guided for an impressive 17% annual growth rate through FY2025 and FY2026, driven by heightened activity from hyperscalers and stabilizing demand from service providers.

With Oracle’s strong results reinforcing broader cloud investment trends, the analyst believes Ciena is well-positioned for sustained growth over the next several quarters.

Ciena Corp. (NYSE:CIEN) is a global leader in networking systems, services, and software, best known for its optical and routing solutions that power cloud and telecommunications infrastructures. The company serves hyperscalers, service providers, and enterprises worldwide.

While we acknowledge the potential of CIEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 11 Best Low-Priced Technology Stocks to Buy Right Now and 11 Best Emerging Technology Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.