Calix (CALX, Financial) has received an increased price target from Northland, which raised its target to $50, up from the previous $45. This adjustment follows Calix's first-quarter results, which exceeded expectations and showcased strong guidance for the remainder of the year.
The company's impressive performance was largely attributed to a resurgence in business with smaller carrier clients, coupled with a robust start from major partner Verizon (VZ). Verizon highlighted that its broadband revenue streams have remained resilient despite broader economic challenges, which likely contributed to Calix's positive outlook.
Additionally, Calix noted that its results have historically shown counter-cyclical tendencies, aligning with recent trends observed in companies like Netflix (NFLX). Overall, Calix maintains an Outperform rating, reflecting confidence in its capacity to capitalize on its current momentum and market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Calix Inc (CALX, Financial) is $51.00 with a high estimate of $53.00 and a low estimate of $50.00. The average target implies an upside of 35.60% from the current price of $37.61. More detailed estimate data can be found on the Calix Inc (CALX) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Calix Inc's (CALX, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Calix Inc (CALX, Financial) in one year is $43.26, suggesting a upside of 15.02% from the current price of $37.61. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Calix Inc (CALX) Summary page.
