Double Upgrade Pushes Ciena Stock Near Record Highs

Ciena Corp (NYSE:CIEN) stock is on the rise today, up 4.2% at $61.18 at last glance, after a rare double upgrade from Citigroup. The firm raised its rating to "buy" from "sell," with a price-target hike to $68 from $44, as analysts grow increasingly optimistic toward the networking stock and its growth potential. Today's pop has CIEN breaking above recent pressure at the $59 region, and nearing its Mar. 4 record high of $63.24. Since the start of 2024, the equity is up more than 36%. Of the 17 analysts in c ...