Calix price target raised to $56 from $52 at Rosenblatt

Rosenblatt raised the firm’s price target on Calix (CALX) to $56 from $52 and keeps a Buy rating on the shares. The company’s message at Rosenblatt’s conference was “upbeat,” the analyst tells investors in a research note. Calix is back to growing revenues double-digits year-over-year even without any contribution from the Broadband Equity, Access, and Deployment yet modeled, the analyst tells investors in a research note. The firm says demand for broadband in the U.S. is inelastic, and Calix’s customers are gaining subscriber market share. It believes Calix’s upcoming new segmentation will likely help to drive multiple expansion for the stock.