Rosenblatt believes Calix won first deal with T-Mobile

Rosenblatt analyst Mike Genovese, post the Q2 earnings report and a talk with management, believes Calix (CALX) likely won its first independent deal with T-Mobile (TMUS) for a cloud product that helps manage the company’s call centers. In addition, separate from the cloud win, T-Mobile is likely now a full platform customer via its acquisition of Lumos, the analyst tells investors in a research note. Rosenblatt also thinks Calix’s agentic artificial intelligence should result in greater revenue and margin acceleration starting in late 2025 or early 2026. The firm continues to view the stock as a “must own” with a Buy rating and $65 price target.