.July 24, 2024 09:33 AM

Rosenblatt analysts raised Calix’s price target to $45 from $35 with a Buy rating after Q2 earnings led to a 6% stock drop. Despite predicting revenue growth below 10% in 2025, they are optimistic about Calix’s future due to its cloud-based platform supporting BSP customer growth. Positive metrics like GMs, FCF, RPOs, new customer additions, and deals reinforce this outlook. Calix expects BEAD orders in early 2025 to drive double-digit growth by the second half of 2025 and into 2026.