Nortel Buy Could Make Ciena Stock Owners Rich

Anyone with stock in fiber-optic gearmaker Ciena Corp could be a big winner if the company’s bid to buy Nortel’s optical division goes through.

Ciena has bid more than a half-billion dollars for not only optics, but also parts of Nortel’s Metro Ethernet division. That might help double Ciena’s stock price in 2010, according to Barron’s. The financial magazine quotes an analyst from Simon Leopold, who says the company’s share price could rise to $24.50. It’s currently trading at just under $13.

Those who have Ciena stock have already reaped rewards over the past year, seeing the price go up more than 75 percent.

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