Communication infrastructure company Ciena (NYSE:CIEN) may not be the most well-known company, but its stock is drawing interest. In fact, it’s up over 4% in Wednesday afternoon’s trading, thanks to a new report from Morgan Stanley, which pointed out the significant upside potential found therein.
Morgan Stanley, via analyst Meta Marshall, found that Ciena was now operating in a “derisked” environment for its FY 2024. In fact, based on the second quarter results recently released, Ciena’s overall business model is “more achievable,” Marshall noted, and topped it off by noting, “…we would be buyers ahead of recovery.”
Marshall also looks for a likely return of normalized inventory, improvements in Ciena’s share of the cloud market, and the rising tide of Ciena’s upcoming WaveLogic 6 release. Granted, any or all of these could fall flat, and it’s a safe bet that any recovery would be gradual, Marshall…
