Monday, December 13, 2010

CIENA (NASDAQ:CIEN), Finisar (Nasdaq:FNSR), Oclaro (Nasdaq:OCLR) PTs Raised by Miller Tabak

Citing the strong performance of Ciena (NASDAQ:CIEN) in the last quarter, Miller Tabak raised their price target on them, along with peers Finisar (Nasdaq:FNSR) and Oclaro (Nasdaq:OCLR).

For Ciena, Miller Tabak also upwardly changed their EPS and revenue estimates for full year 2011 and 2012. The new numbers are $0.12/$1.85 billion and $1.30/$2.3 billion from $0.50/$1.79M billion and $1.25/$2.1 billion.

Ciena closed Friday at $19.21, up $0.85, or 4.63 percent. The price target on them was raised from $20 to $22. Miller maintains a "Buy" rating on them.

Finisar closed at $25.33, up $0.19, or 0.76 percent. The price target on them was raised by Miller Tabak from $27 to $35.

Oclaro closed at $12.65, up $0.60, or 4.96 percent. Their price target was raised from $16 to $20.

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