MKM Partners Reiterates On Ciena

Ciena CIEN is scheduled to report third quarter results before the open on September 4. MKM Partners is expecting upbeat earnings and guidance in line or slightly better than consensus.

The firm's EPS estimate of $0.25 is below consensus of $0.28 because of increased share count, while revenue expectation of $603 million is $2 million above the consensus.

MKM reiterated its Buy rating, with a $28 12-month price target (based on 18 times their FY15 EPS forecast.)

Shares of Cena closed at $20.60, down 0.68 percent.