UBS Cuts Estimates and Price Target on Calix (CALX); Softer Spending Environment
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Price: $9.38 -1.05%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade CALX Now!
UBS maintains a 'Buy' on Calix (NYSE: CALX) price target of $8.00 (from $12.00).
Analyst, Nikos Theodosopoulos, said, "2Q miss on revenues and EPS, softer spending environment...We lower our FY12/13 Rev and EPS estimates to $323M/$364M and $0.32/$0.60. We maintain our FY13 growth est of 13%. As recently as the 1Q call in May, management was targeting revenue growth of 20% in 2012 to $414M (UBS and cons est $401M and $404M). We now do not model CALX achieving that level of revenues until after 2014 though we will revisit our assumptions after the company reports on July 31st and provides some insight in to 3Q, and possibly 2H."
For an analyst ratings summary and ratings history on Calix click here. For more ratings news on Calix click here.
Shares of Calix closed at $6.48 yesterday, with a 52 week range of $5.60-$22.11.
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Analyst, Nikos Theodosopoulos, said, "2Q miss on revenues and EPS, softer spending environment...We lower our FY12/13 Rev and EPS estimates to $323M/$364M and $0.32/$0.60. We maintain our FY13 growth est of 13%. As recently as the 1Q call in May, management was targeting revenue growth of 20% in 2012 to $414M (UBS and cons est $401M and $404M). We now do not model CALX achieving that level of revenues until after 2014 though we will revisit our assumptions after the company reports on July 31st and provides some insight in to 3Q, and possibly 2H."
For an analyst ratings summary and ratings history on Calix click here. For more ratings news on Calix click here.
Shares of Calix closed at $6.48 yesterday, with a 52 week range of $5.60-$22.11.
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