Analysts are weighing in today on network communications provider Ciena Corporation (NASDAQ:CIEN - 16.88), pharmaceutical issue Eli Lilly & Co. (NYSE:LLY - 43.86), and mobile phone giant Nokia Corporation (ADR) (NYSE:NOK - 3.08). Here's a quick roundup of today's bullish brokerage notes.

• CIEN -- which has gained roughly 57% during the past 52 weeks, and almost 40% year-to-date -- saw its price target lifted to $19 from $16 at Needham Research earlier this morning. In the options pits, however, puts bought to open have nearly doubled calls, as reflected by the stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.91. In fact, this ratio is just two percentage points shy of a yearly peak, meaning traders have rarely purchased puts over calls at a faster pace.
  
  
• BMO raised its price target for LLY to $42 from $37 in pre-market action, a move that could add to its 23% advance over the last 12 months. Despite this technical strength, near-term traders are still showing an affinity for puts over calls. The Schaeffer's put/call open interest ratio (SOIR) checks in at 1.04, meaning puts outweigh calls among the front three-months' series of options. This ratio arrives in the 78th percentile of its annual range, indicating that short-term options players are more put-heavy toward the stock than usual.
  
  
• Up more than 9% in pre-market trading, NOK scored a price-target hike to 2.50 euros from 2 euros at Wunderlich Securities after rival Samsung Electronics lost a high-profile court case against Apple Inc. (NASDAQ:AAPL). With a year-over-year loss of about 48%, it's not surprising that the equity has been the target of bearish speculation lately. Short interest on the security spiked by more than 29% during the last two reporting periods, and now accounts for a respectable 6% of the equity's float. It would take nearly four days to cover these shorted shares, at the stock's average pace of trading.