We Are Incorporating Expected U.S. Corporate Tax Reform and Raising Our FVE for Ciena to $27
We are increasing our fair value estimate for Ciena to $27 from $26, based on Morningstar’s belief that U.S. corporate tax reform will likely settle on a 25% federal tax rate. Ciena has established a solid reputation as one of the market leaders in the optical network equipment industry. Steady sales growth and an expanding pipeline of innovative technologies keep this vendor at the top of the list of optical transport buyers. However, in our opinion, the company's relative strength and leading ...Ciena is a networking systems, services and software company, providing solutions that enable a range of network operators to deploy and manage networks that deliver services to businesses and consumers. The company provides hardware, software and services that support the transport, switching, aggregation, service delivery and management of video, data and voice traffic on communications networks. The company's solutions are used by communications service providers, cable and multiservice operators, Web-scale providers, submarine network operators, governments, enterprises, research and education institutions and other network operators.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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