** Shares of networking systems firm Ciena up 3% at $60.48 premarket
** Citigroup upgrades stock to "buy" from "sell"; raises PT to $68 from $44
** "Upgrade CIEN to buy as the extended overhang from excess inventory and weak demand in telco/cable is gradually lifting and will yield a return to medium-high single-digit growth in FY25" - Citi
** 12 of 17 brokerages covering CIEN rate it "buy" or higher, 5 "hold"; median PT is $62.50 - LSEG
** Stock up ~30.5% YTD as of last close
(Reporting by Jaiveer Singh Shekhawat in Bengaluru)
((JaiveerSingh.Shekhawat@thomsonreuters.com;))
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