Rosenblatt analyst Mike Genovese raised the firm’s price target on Calix (CALX) to $65 from $56 and keeps a Buy rating on the shares. The company reported “extremely strong” Q2 results and Q3 guidance, the analyst tells investors in a research note. The firm believes Calix’s broadband customers are winning subscriber market share, expanding revenue per user, and driving churn to near zero. Rosenblatt views Calix as a “must own stock,” saying the company has the industry’s “greatest product, strategy, and business model.”
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