Ciena Soars on Target Hike; Lululemon Faces Wall Street Wrath

Ciena grabbed the spotlight Friday after UBS analyst David Vogt raised his price target to $508 from $285 — a near-80% jump. The stock carries a market cap of $75.8 billion. The networking equipment maker is riding strong AI-driven fibre demand. Short interest sits at just 3.1% of free float.

Lululemon faced the opposite reaction. Multiple analysts slashed targets following weak guidance. UBS cut its target to $124 from $153, keeping a Hold rating. Telsey Advisory Group dropped its target from $175 to $122. The consensus average target fell to $144 from $171. Short interest on the apparel brand stands at 6.2% of free float.

UBS analyst Joshua Spector made two cuts in chemicals. He trimmed LyondellBasell to $73 from $82 and slashed Dow Inc. to $37 from $39. Both remain Hold-rated. The cuts reflect margin pressure in the sector.

One bright spot from Spector: Corning saw a target lift to $228 from $223, upgraded to Buy. Alphabet also got a small target boost, with consensus nudging up to $431. Campbell's and Brown-Forman both saw targets trimmed, reflecting cautious views on consumer staples.