I've looked at a fair number of analysts weighing in on CIEN. With one exception (cutting PT to $15 from $18 with a 'hold' rec), they've all kept a 'buy' on CIEN but uniformly have lowered PT's - ranging from low 20's to high 20's. Which would/could be good news except - On SN, for instance, as things got worse in the oil patch, they kept 'buy' ratings but cut PT sequentially from the high 30's to ....somewhere above what it is now - about $5.50. CIEN does have a good long term outlook, so I'm not happy about the quarter, but selling nothing, even on calls. I *think* perhaps the 'bounce' folks (incl. here) thought would happen has happened. Kudos to those who saw the 'sympathy' ~4-5% drop in INFN as ludicrous -  it's regained all it lost yesterday, today.