The Investor
21 Sep 2026, 14:55
Ciena Stock Rises 3.7% as Evercore Upgrades Shares to Outperform
Ciena shares rose 3.7% to $361.71 after Evercore upgraded the networking equipment company to Outperform from In-Line and set a $550 price target.
The target implies roughly 52% upside from the latest share price, reflecting a substantially more constructive view on Ciena’s longer-term growth potential.
Behind the positive sentiment include accelerating demand for optical networking, data-center interconnects and high-capacity infrastructure needed to support AI workloads. Rising bandwidth requirements from hyperscalers and cloud providers continue to strengthen the outlook for companies supplying advanced networking systems.
Ciena has also recently outlined ambitious fiscal 2029 targets, including approximately 30% annual revenue growth from 2026 through 2029 and significant margin expansion, which has reinforced investor focus on its exposure to AI-driven network investment.
The Evercore upgrade adds to that favorable backdrop, while the 3.7% gain suggests investors are increasingly confident in Ciena’s ability to benefit from sustained growth in cloud and AI infrastructure spending.
Ciena shares rose 3.7% to $361.71 after Evercore upgraded the networking equipment company to Outperform from In-Line and set a $550 price target.
The target implies roughly 52% upside from the latest share price, reflecting a substantially more constructive view on Ciena’s longer-term growth potential.
Behind the positive sentiment include accelerating demand for optical networking, data-center interconnects and high-capacity infrastructure needed to support AI workloads. Rising bandwidth requirements from hyperscalers and cloud providers continue to strengthen the outlook for companies supplying advanced networking systems.
Ciena has also recently outlined ambitious fiscal 2029 targets, including approximately 30% annual revenue growth from 2026 through 2029 and significant margin expansion, which has reinforced investor focus on its exposure to AI-driven network investment.
The Evercore upgrade adds to that favorable backdrop, while the 3.7% gain suggests investors are increasingly confident in Ciena’s ability to benefit from sustained growth in cloud and AI infrastructure spending.
