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Goldman Sachs Upgrades Calix (CALX) to Neutral

March 12, 2014 6:51 AM EDT
Get Alerts CALX Hot Sheet
Price: $33.89 -0.35%

Rating Summary:
    12 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 2 | New: 35
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Goldman Sachs upgraded Calix (NYSE: CALX) from Sell to Neutral with a price target of $9.00 (from $7.00) noting expectations have reset.

Analyst Simona Jankowski notes consensus 2014/15 revenue estimates have fallen 14% and 11%, respectively, and now more accurately reflect the growth trajectory for the company. Jankowski said, "We believe expectations have largely been reset after Calix guided 1Q14 for a double-digit yoy revenue decline and for its first non- GAAP earnings loss since 3Q09. We are now in line with consensus revenue for 2014 and only 2% below for 2015."

The firm's FY15/FY16 non-GAAP EPS estimates rise to $0.62/$0.78 from $0.52/$0.68, while their FY14 estimate is unchanged.

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 $8.65 yesterday.


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