Calix price target raised to $48 from $44 at Roth MKM

Roth MKM analyst Scott Searle raised the firm’s price target on Calix (CALX) to $48 from $44 and keeps a Buy rating on the shares. The company reported Q4 results slightly ahead of expectations and guided Q1 ahead of estimates, driven by recovering broadband demand and continued managed service expansion, the analyst tells investors in a research note. The firm says Calix’s remaining performance obligations continued on a “torrid expansion.” The company continues to drive managed services adoption with solutions such as SmartHome, Arlo Secure, Bark, SmartBiz and SmartTown, which should translate to continued double-digit annual growth, contends Roth. The firm notes there is limited Broadband Equity Access and Deployment Program contribution in its model, which it sees ramping in 2026.