Clearfield downgraded to Market Perform from Outperform at Northland

Northland analyst Tim Savageaux downgraded Clearfield (CLFD) to Market Perform from Outperform with an unchanged price target of $45 following the company’s “solid” fiscal Q3 results and outlook. The firm notes continued weakness internationally at Nestor Cables and Nestor revenues set to decline nearly 20% in FY25 versus initial flat expectations. However, stabilizing revenue and reduced losses in FY26 are a potential tailwind along with reduced uncertainty around BEAD, the analyst added.