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Ciena Corporation (NYSE:CIEN) is one of the 10 Mid-Cap Stocks That Are On Fire Right Now. On April 20, Morgan Stanley increased its price target on Ciena Corporation (NYSE:CIEN) from $286 to $405 and maintained its Equal Weight rating on the stock.

The research firm pointed out that optical stocks have continued to reach new heights. Morgan Stanley does not expect optical companies to “wane just yet as there is nothing that disproves the bull case for now.”

Earlier, on April 16, JPMorgan analyst Samik Chatterjee also lifted the firm’s price target on Ciena Corporation (NYSE:CIEN) from $380 to $550 and maintained an Overweight rating on the stock.

This update comes as the research firm adjusted its ratings and price targets in the hardware and networking group as part of JPMorgan’s Q1 preview. JPMorgan expects that investments in AI infrastructure, including servers, switches, copper interconnects, and opticals, will support growth for AI-levered suppliers in the first quarter.

Ciena Corporation (NYSE:CIEN) is an American optical networking systems and software company that specializes in networking systems, components, automation software, and related services.

While we acknowledge the potential of CIEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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