Calix price target raised to $79 from $78 at TD Cowen

TD Cowen analyst Paul Silverstein raised the firm’s price target on Calix to $79 from $78 and keeps an Outperform rating on the shares. The company’s "strong" Q1 results and outlook belie investors concern and reinforce the view that its growth margin and earnings trajectory are far exceeding expectations, the analyst tells investors in a research note. The analyst says Calix remains the firm’s remains best SMIDcap idea.