Seeking Alpha

Ciena bull recommends buying on pullback

|About: Ciena Corporation (CIEN)|By:, SA News Editor

MKM Partners advises investors to take advantage of Ciena's (NYSE:CIEN) "misplaced" share decline.

Analyst Michael Genovese calls the move a "sympathy" pullback after Corning's forecast cut. The analyst doesn't "think there is much, if any, negative read-through to CIEN from GLW’s announcement."

MKM maintains a Buy rating and $51 price target. The company has an Outperform average Sell Side rating.

Ciena shares closed yesterday down 2.1% and are down 0.8% pre-market to $40.10.

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