Calix (CALX) Growth Likely Constrained Going Forward - BWS Financial
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BWS Financial analyst Hamed Khorsand reiterated a Sell rating and $13.00 price target on Calix (NYSE: CALX) noting that the company has seen an increase in sales as small broadband service providers address the increasing number of people working from home. However, he believes this trend is changing as service providers see increased cyclicality that has usually been present historically.
The analyst stated "During the June quarter of this year, service providers were reporting an increase in subscribers and were painting a generally positive picture for the rest of the year. Since then, there has been a change in consumer habits. There are fewer people who need to purchase a subscription for back to school since they are already a customer thanks to either cord cutting or staying home because of COVID-19."
Shares of Calix closed at $52.99 yesterday.
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