Clearfield price target raised to $60 from $50 at Needham

Needham raised the firm’s price target on Clearfield to $60 from $50 and keeps a Buy rating on the shares after meeting with its CEO. The tone of the discussion was positive and the firm is confident in a recovery from a customer inventory headwind in the coming quarters in its Regional and Cable segments, the analyst tells investors in a research note. A return to normalized demand is expected in 2024, further boosted by increasing government subsidies, Needham added.