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UPDATE: Raymond James Downgrades Calix Following Weak 4Q13 Forecast

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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
May 2015Morgan StanleyInitiates Coverage onEqual-weight
Apr 2015JefferiesMaintainsBuy
Feb 2015UBSDowngradesBuyNeutral

View More Analyst Ratings for CALX
View the Latest Analyst Ratings

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

 

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