Ciena Stock Resumes Rally on Slew of Bull Notes

No fewer than three analysts raised their price targets

Laura McCandless

Deputy Editor

Jun 5, 2020 at 11:20 AM

CIEN

The shares of Ciena Group (NYSE:CIEN) are up 1.7% at $54.79 at last check, following a fresh round of bull notes one day after the company's second-quarter earnings. The communications and networking name has seen no fewer than three price-target hikes this morning, the highest coming from Cowen to $73 from $69.

Soaring on the charts as of late, CIEN is fresh off its June 3, post-earnings 18-year high of $57.19. Though staring down at a 0.9% drop for the week following yesterday's pullback, the stock is now contending with its ascending 10-day moving average and has surged 56.9% in the last six months.

Lastly, when weighing in on CIEN, options looks like an attractive way to go. The stock's Schaeffer's Volatility Index (SVI) of 37% is higher than just 13% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment.

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