UBS Keepss a 'Buy' on Calix (CALX), But Lowers PT & Estimates on Q3 Pre-Announcement
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Price: $40.38 --0%
Rating Summary:
12 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
Rating Summary:
12 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
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UBS maintains a 'Buy' on Calix (NYSE: CALX) price target slashes from $25 to $12.
UBS analyst says, "The company gave limited detail in its press release and no guidance on 4Q and beyond. We now estimate 15% sequential growth in 4Q (vs. 30% previously) off of the lower 3Q base. In 4Q we expect CALX should be able to realign costs and achieve 10% op margins (vs. 11% in 4Q10). We forecast FY12/13 sales growth of 20%/15%. Our new EPS estimates for FY11/FY12/FY13 are $0.53/$0.70/$1.10 vs. previous $0.90/$1.20/$1.40."
"We continue to believe that although projects have been pushed out, stimulus funds in the pipeline and international expansion provide above-average growth
warranting a premium multiple."
For more ratings news on Calix click here and for the rating history of Calix click here.
Shares of Calix closed at $8.75 yesterday.
UBS analyst says, "The company gave limited detail in its press release and no guidance on 4Q and beyond. We now estimate 15% sequential growth in 4Q (vs. 30% previously) off of the lower 3Q base. In 4Q we expect CALX should be able to realign costs and achieve 10% op margins (vs. 11% in 4Q10). We forecast FY12/13 sales growth of 20%/15%. Our new EPS estimates for FY11/FY12/FY13 are $0.53/$0.70/$1.10 vs. previous $0.90/$1.20/$1.40."
"We continue to believe that although projects have been pushed out, stimulus funds in the pipeline and international expansion provide above-average growth
warranting a premium multiple."
For more ratings news on Calix click here and for the rating history of Calix click here.
Shares of Calix closed at $8.75 yesterday.
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