Market Overview

UPDATE: Raymond James Downgrades Calix Following Weak 4Q13 Forecast

Share:
Related CALX
Morning Market Losers
Mid-Afternoon Market Update: NASDAQ Climbs 0.55%; Terex Shares Slide After Weak Earnings

In a report published Wednesday, Raymond James analyst Simon Leopold downgraded the rating on Calix (NYSE: CALX) from Outperform to Market Perform, and removed the $12.50 price target.

In the report, Raymond James noted, “We reduce our rating to Market Perform from Outperform on Calix following a surprisingly weak 4Q13 forecast. Although we remain believers in upgrades to consumer broadband services, we suspect Calix has exposure to too many underfunded operators to support the sales levels we anticipated. We think uncertainty regarding the slope of the positive trend will remain unclear until perhaps the spring, so we step to the side.”

Calix closed on Tuesday at $12.50.

Latest Ratings for CALX

DateFirmActionFromTo
Feb 2015UBSDowngradesBuyNeutral
Feb 2015Goldman SachsDowngradesBuyNeutral
Oct 2014Goldman SachsAssumesBuy

View More Analyst Ratings for CALX
View the Latest Analyst Ratings

Posted-In: Raymond James Simon LeopoldAnalyst Color Downgrades Analyst Ratings

 

Related Articles (CALX)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→