UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Calix Following Discussions with Management

In a report published Monday, Jefferies analyst George C. Notter reiterated a Buy rating on

, and raised the price target from $10.50 to $15.00. In the report, Jefferies noted, “We recently spent time with the Calix management team. Our discussions centered on the refreshed Connect America Fund and the additional momentum that FTTP-based network designs seem to be getting among operators. We continue to like the risk/reward on Calix shares and reiterate our Buy rating.” Calix closed on Friday at $10.48.