WS #14864
Evercore ISI raised Ciena's stock price target to $550 from $375, citing expected 30% revenue growth over the next three years driven by AI infrastructure demand. This upgrade highlights the continued strength in the underlying tech hardware cycle, specifically in optical networking and data center connectivity. It serves as a counter-narrative to broader tech selloffs, indicating that capital expenditure on AI infrastructure remains robust despite macro headwinds.
Tech Infrastructure Demand
Evercore ISI raised Ciena's stock price target to $550 from $375, citing expected 30% revenue growth over the next three years driven by AI infrastructure demand. This upgrade highlights the continued strength in the underlying tech hardware cycle, specifically in optical networking and data center connectivity. It serves as a counter-narrative to broader tech selloffs, indicating that capital expenditure on AI infrastructure remains robust despite macro headwinds.