Calix price target raised to $50 from $45 at Northland

Northland raised the firm’s price target on Calix (CALX) to $50 from $45 and keeps an Outperform rating on the shares following the company’s “much better than expected” Q1 results and guidance, which were driven by a rebound with smaller carrier customers and a strong start to the year from Verizon (VZ). Verizon noted in their report that broadband bandwidth driven revenue streams have proven resistant to macro pressures, with Calix also pointing out historic counter cyclically evident in recent results from Netflix (NFLX), the analyst noted.