Cloud Should Be An Outsized Growth Driver For Ciena Across Fiscal 2025: Morgan Stanley Analyst

Morgan Stanley analyst Meta Marshall upgraded Ciena Corp CIEN from Equal-Weight to Overweight and raised the price target from $53 to$55. Cloud should be an outsized growth driver for CIEN across fiscal 2025, driven by continued share gains and the WaveLogic 6 ramp. This will inform his view of the potential upside to estimates next year. However, this opportunity remains over the coming years rather than in the near term. However, post-cut to full-year estimates, Marshall noted that the fiscal 2024 model ...