Stifel Keeps Buy Rating On Ciena (CIEN), Price Target At $152

Ciena Corporation (NYSE:CIEN) is one of the best smart city stocks. On September 26, Stifel kept its Buy rating and $152 price target on Ciena, whose shares are trading near a 52-week high and indicate a jump of roughly 120% in the last year.

Ciena is expected to maintain robust revenue growth with improved profitability metrics, according to Stifel, especially when keeping in mind the company’s almost 13% growth in the last year.

The research firm mentioned Ciena’s comments on bandwidth growth driven by AI workloads, highlighting that cloud companies are now pioneering new data transmission and interconnect technologies.

Analysts highlighted that while the company conventionally focused on telecom service provider needs, cloud service providers are increasingly taking charge in shaping technology development.

Stifel estimates that Ciena’s innovative capabilities, paired with ongoing demand and the mounting significance of optical technologies, will support projections and encourage higher stock multiples.

Ciena Corporation (NYSE:CIEN) provides networking hardware, software, and services to operators worldwide. Its operations include optical transport and IP routing, network management, multi-domain orchestration, analytics, and consulting.

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