Stock Rating Downgrade
The Value Trend Rating for Ciena Corp (NYSE: CIEN) weakened in recent days from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Ciena Corp (NYSE: CIEN) stock closed at $47.50 on 4/8/24 after a slight decline of -0.2%. However, this decline was accompanied by exceptionally low trading volume at 48% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -3.9% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, CIEN is expected to continue to be an important Value Builder.
Ciena has a current Value Trend Rating of C (High Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Ciena has a neutral Appreciation Score of 52 and a slightly positive Power Rating of 68, and the High Neutral Value Trend Rating results.
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