Calix price target raised to $55 from $50 at Rosenblatt

Rosenblatt raised the firm’s price target on Calix (CALX) to $55 from $50 and keeps a Buy rating on the shares. The better demand in Q4 was broad based across customers of all sizes, the analyst tells investors in a research note. The firm thinks 2025 is a recovery year for Calix, with revenues likely to increase in the single digits. Longer-term, starting in 2026, Calix is likely at least a low double-digit grower than can benefit from, but is not dependent on, Broadband Equity Access and Deployment Program, contends Rosenblatt. It believes Calix “has the most powerful, software and recurring revenue-based business model in the industry.”