Ciena falls on Morgan Stanley downgrade

Ciena

08/07/2025 15:27

** Shares of networking equipment maker Ciena CIEN.N fall ~2% to $78.87 in early trading

** Morgan Stanley downgrades stock to "underweight" from "equal weight", trims PT to $70 from $73

** Brokerage sees more muted earnings follow-through on any upside surprises, citing a higher mix of lower-margin pluggable products and tougher year-over-year comparisons in the telecom segment during H2

** The new price target represents a ~13% downside to the stock's last close

** Average rating of 18 brokerages is "buy"; their median PT is $84 - according to data compiled by LSEG

** Stock down ~6% YTD

 (Reporting by Joel Jose in Bengaluru)

 ((joeljose@thomsonreuters.com;))