By Market News Video Staff, Monday, November 22, 2:46 PM ET
A couple of analysts made calls on Ciena (NASDAQ:CIEN) today.
Barclays (NYSE:BCS) upgraded the stock from equal weight to overweight, and hiked its price target from $16 to $18 per share. Barclays cited strong fundamentals in optical equipment in its upgrade.
Morgan Stanley (NYSE:MS) initiated coverage on the stock with an equal weight rating, saying the core transport market remains soft.
Ciena shares are trading up 4.4% Monday.
Ciena is 1.82% of the iShares S&P North American Technology-Multimedia Networking Index Fund (AMEX:IGN). Top holdings in the fund include Juniper Networks (NYSE:JNPR), at 10.42% of the fund, Qualcomm (QCOM) and Motorola (MOT), 8.87% of the portfolio.
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