On October 9, Ciena rose 3.29% in regular trading, trading at $447.98 per share, with turnover of $36.60 million.

The gain was driven by a broad rebound in optical communications stocks amid sustained confidence in Ciena's key position in AI-related optical networking. Multiple investment banks have recently raised their ratings on the company, with Bernstein initiating coverage at Outperform with a $440 price target and Evercore ISI upgrading the stock to Outperform with a $550 target, citing the firm's critical bottleneck role in AI buildouts. Morgan Stanley highlighted Ciena's expected roughly 30% revenue compound annual growth rate over the next three years and an estimated $12 billion in new data center market opportunities by 2029, reinforcing the fundamental support behind the share price recovery. Earlier in the session, Lumentum and Applied Optoelectronics advanced more than 6% and 9%, respectively, with the wider optical sector extending gains following recent pressure.

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