Clearfield price target lowered to $44 from $47 at Lake Street

Lake Street lowered the firm’s price target on Clearfield (CLFD) to $44 from $47 and keeps a Buy rating on the shares. Clearfield reported revenue and EPS above both estimates and guidance, with significant outperformance on the bottom line, the analyst tells investors. While “disappointed” in the company’s guidance, the firm does not believe it indicates any significant change for in Clearfield’s position in the market, but thinks the macro has simply caused customers to become a bit more cautious.