Calix price target lowered to $45 from $50 at Northland

Northland analyst Tim Savageaux lowered the firm’s price target on Calix to $45 from $50 and keeps an Outperform rating on the shares. The company reported in-line Q1 results and and weaker Q2 guidance, driven by continued slowing in deployments from larger customers, the analyst tells investors in a research note. The firm says that offsetting this weakness is stability in Calix;s core small rural carrier segment. It sees potential for share gain as well as resumed spending among the company’s current base of medium and larger carriers going forward.