• Tue. Feb 7th, 2023

Calix Analyst Is ‘Highly Bullish’ Backed By Massive US Rural Fiber Build, Improving Software Mix – Calix (NYSE:CALX)

ByAnusuya Lahiri

Oct 25, 2022
Calix Analyst Is 'Highly Bullish' Backed By Massive US Rural Fiber Build, Improving Software Mix - Calix (NYSE:CALX)

  • Needham analyst Ryan Koontz reiterated a Buy rating on Calix, Inc CALX with a $70 price target.
  • CALX reported a strong beat and raise, with 3Q22 revenue and non-GAAP EPS beating the consensus forecasts and 4Q22 revenue guidance +10% ahead, driven by accelerating U.S. spending on fiber access.
  • Also ReadCalix Shares Pop Over 16% On Q3 Beat, Upbeat Q4 Guidance
  • He suspected that the mid-sized customer segment grew over 100% sequentially due to new customer Brightspeed coming online, while Cloud-centric RPO reached $173 million (+63% Y/Y). 
  • He waited to hear management’s commentary and discussion of results on this morning’s conference call before he adjusted his 4Q22 and CY23 estimates.
  • He was highly bullish on CALX and considered it one of the top two picks in his coverage. He pointed out strong execution and a sizable competitive lead in its transformation to a software company. 
  • He foresaw the upside to his estimates driven by a massive U.S. rural fiber build, partially funded by many federal subsidy programs. 
  • Price Action: CALX shares traded higher by 16.6% at $70.33 on the last check Tuesday.



Image and article originally from www.benzinga.com. Read the original article here.