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Needham analyst Ryan Koontz maintained Clearfield, Inc (NASDAQ: CLFD) with a Purchase and raised the value goal from $115 to $135. Koontz ran out of superlatives.
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CLFD delivered one other sturdy quarter, with income and EPS forward of consensus.
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Income grew +110% Y/Y, and he raised his F23 income and EPS estimates.
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Neighborhood broadband gross sales remained scorching (+91% Y/Y), and cable gross sales soared by +200% Y/Y.
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The backlog remained sturdy and the working margin impressed at 23.4%.
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Outcomes thwarted unfavorable investor telecom sentiment he attributes predominantly to AT&T Inc (NYSE: T) capex cuts.
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Koontz up to date F23 income and EPS estimates have been almost double his December 13 initiation.
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With over $90 billion in U.S. rural broadband subsidies simply starting to trickle in forward of a multi-year cycle and CLFD creating plans to enter Europe, he reiterated CLFD as his prime choose.
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Northland Capital Markets analyst Tim Savageaux maintained an Outperform and raised the worth goal from $110 to $120.
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Worth Motion: CLFD shares traded increased by 26.9% at $118.13 on the final verify Friday.
Newest Rankings for CLFD
|
Date |
Agency |
Motion |
From |
To |
|---|---|---|---|---|
|
Jan 2022 |
BWS Monetary |
Initiates Protection On |
Promote |
|
|
Dec 2021 |
Needham |
Initiates Protection On |
Purchase |
|
|
Apr 2021 |
Northland Capital Markets |
Upgrades |
Market Carry out |
Outperform |
View Extra Analyst Rankings for CLFD
View the Newest Analyst Rankings
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