UBS Maintains a 'Buy' on Calix (CALX); Reports Solid Q2

UBS maintains a 'Buy' on Calix (NYSE: CALX) price target raised $1 to $25.

UBS analyst says, "2Q Solid as Broadband Demand Remains Healthy - Revs of $98M and EPS $0.16 were ahead of our ests. of $97M and $0.13. The EPS upside was due to better GM at 44.3% (UBS est. of 43.5%) and Opex of $35.5M (UBS est. of $36.0M). CALX had 2 10% customers (likely CTL and FTR). Intl sales remained at 6% as in 1Q11. Deferred revs. increased 18% seq to $35.05M reflective of Broadband Stimulus activity." (UBS raises FY12 EPS estimate from $1.15 to $1.20)

For more ratings news on Calix click here and for the rating history of Calix click here.

Shares of Calix closed at $22.02 yesterday.

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