Bank of America Downgrades Ciena (CIEN), Morgan Stanley Lowers PT

Ciena Corporation (NYSE:CIEN) is one of the 12 Best 5G Stocks to Invest in According to Hedge Funds. On January 20, BofA Securities downgraded its rating on Ciena Corporation (NYSE:CIEN) from Buy to Neutral. The firm said it is becoming more cautious about near-term spending on AI-driven networking despite the long-term outlook still staying solid. BofA Securities noted that valuations across networking stocks are now well above historical levels. Hyperscaler capital spending growth is also expected to sl ...