Calix price target lowered to $80 from $85 at Northland

Northland analyst Tim Savageaux lowered the firm’s price target on Calix to $80 from $85 and keeps an Outperform rating on the shares after making a "slight reduction" to its calendar 2023 estimates following the company’s better than expected Q4 report. The firm views its unchanged 2023 revenue forecast at the high end of a 10%-15% growth range as "conservative," but said earnings power, however, has "remained muted" and it cut its 2023 EPS estimate to $1.17 from a recently-increased $1.25.