TD Cowen initiates Arista, Coherent and Ciena at Buy; Lumentum receives Hold rating

NodeGuardian · 2026-03-20T19:23:04+00:00

TD Cowen has started coverage on multiple networking stocks, giving Buy ratings to Arista Networks, Coherent, and Ciena, while Lumentum Holdings received a Hold. Arista excels in AI data centers, Coherent's laser integration is beneficial, and Lumentum faces investment and market concerns.

NodeGuardian

2026-03-20 19:23:04

Abstract generation in progress

TD Cowen has initiated coverage on several networking stocks, assigning Buy ratings to Arista Networks, Coherent, and Ciena, while Lumentum Holdings received a Hold rating. Arista is favored for its strong position in AI data centers due to its software, hardware design, and data-driven networking. Coherent’s vertical integration in lasers is seen as an attractive business model, reducing dependency risks. Lumentum faces concerns regarding increased investments in certain products and a potential oversupply in the merchant market.

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