Calix price target raised to $60 from $53 at Needham

Needham analyst Ryan Koontz raised the firm’s price target on Calix (CALX) to $60 from $53 and keeps a Buy rating on the shares. The firm cites the company’s “strong execution” and expected earnings upside in Q2 for the target increase. Calix should report “at least a modest if not solid beat” on Q2 revenue and earnings, with a second half of 2025 guidance raise versus consensus estimates, the analyst tells investors in a research note. Needham believes the company will see gross margin expansion as its software up-sell subscriber base grows. The shares setup is “very attractive” over the medium term and beyond, contends the firm.