Clearfield guidance looks conservative, says Northland

Northland says Clearfield (CLFD) reported much higher than expected fiscal Q2 revenue and profitability, driven by strength at smaller and regional carriers. The company maintained its annual guidance, implying flattish revenue in a normally seasonally strong build season, the analyst tells investors in a research note. Northland views the guidance as conservative given historical seasonal patterns and “strong” industry data points. It moved to the high end of Clearfield’s outlook and keeps an Outperform rating on the shares with a $45 price target