Ciena因盈利估计风险而下调美国银行的评级

2024-09-06 03:55

Ciena (NYSE:CIEN) was downgraded at Bank of America on Thursday amid a risk to earnings estimates.
"We are downgrading our rating from Buy to Neutral and maintaining our $59 PO, based on 20x CY25E P/E, in line with its historical range," analyst Tal Liani wrote in an investor note. "Management’s commentary on the last earnings call was strong, but the underlying numbers remain soft. 3Q revenues beat Street estimates but were down 12% YoY, and 4Q revenue growth guidance of -2.6% missed Street’s -0.5% expectations. Gross margin is also expected to be weaker, at ~43% versus Street’s 44.7%. We see greater risk of mis-execution next year."
Ciena shares fell 4% in late trading.

More on Ciena