Calix price target raised to $50 from $48 at Roth Capital

Roth Capital raised the firm’s price target on Calix (CALX) to $50 from $48 and keeps a Buy rating on the shares. The company reported “blowout” Q1 results, reflecting recovering pre-Broadband Equity, Access, and Deployment Program broadband demand, the analyst tells investors in a research note. The firm says Calix remains a top pick. The company is well positioned for the continued adoption of “inelastic” broadband services, Roth contends. It believes that after two years of inventory work downs and BEAD-induced pauses, the market has reached a new equilibrium where the compelling return on investment of broadband and value-added service adoption is driving a return to growth.