Ciena: Multiple Upgrades (CIEN)

Posted: February 14, 2007 at 9:06 am

As The Wall Street Journal pointed out today, being in the optical capacity business these days does not get any better. Video and data needs are driving demand for upgraded infrastructure through the roof. So, Citigroup upgraded Ciena’s stock to "buy" after upgrades yesterday.

Ciena shareholders could use some good news. The stock came close to $40 in March of last year. By November, it was down to $22.

But, the market has revised its thinking as companies like Cisco (CSCO) and Level 3 (LVLT) have come back into vogue. YouTube needs all that bandwidth.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.

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