Northland Capital Markets Upgrades Calix (CALX) to Outperform
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Northland Capital Markets analyst Tim Savageaux upgraded Calix (NYSE: CALX) from Market Perform to Outperform with a price target of $45.00.
The analyst comments "We are upgrading CALX shares to OP from MP based on several factors including (1) a nearly 25% pullback in the shares since the analyst day, nearly down to the level of our ( premature) Jan 2021 downgrade (2) a significant recent win with Brightspeed amid indications of continued strength in rural broadband demand and third and perhaps most important, our view of the broadband sector as very resilient to negative macro trends, esp given the imminent release of massive rural broadband subsidies."
Shares of Calix closed at $37.80 yesterday.
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