Markets & Finance

CIBC World Initiates on ONI Systems and Ciena


CIBC World initiated coverage on ONI Systems (ONIS) and Ciena (CIEN) with buy.

Analyst Richard Schafer says the optical networking area of switching presents the greatest value proposition to carriers as they re-architect their networks. He suggests focusing on these next-generation optical networking companies: Ciena, a long-term winner in his view with its end-to-end optical strategy; Tellium (TELM) (continues his buy rating), a pure-play on high growth core optical switch segment; Corvis Corp. (CORV) (continues his buy rating), the leading next-generation optical transport company; and ONI Systems, the No. 2 overall player in the nascent/booming segment. For longer term, Schafer likes Sycamore Networks (SCMR).


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