Argus analyst Jim Kelleher raised the firm's price target on Ciena to $650 from $370 and keeps a Buy rating on the shares after the company posted above-consensus revenue and non-GAAP EPS for Q2 and raised its already strong FY26 sales and profit outlook. Ciena's rapidly AI networking opportunity has led to surging orders and back-log, new markets, and new customers, and while investment in growth is pressuring margin in the near term, volume leverage should offset that negative in coming quarters, the analyst tells investors in a research note.
