Clearfield Analyst Runs Out Of Superlatives Submit Upbeat This fall Outcomes

• 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.

• CLFD delivered one other sturdy quarter, with income and EPS forward of consensus.

• Income grew +110% Y/Y, and he raised his F23 income and EPS estimates.

• Neighborhood broadband gross sales remained scorching (+91% Y/Y), and cable gross sales soared by +200% Y/Y.

• The backlog remained sturdy and the working margin impressed at 23.4%.

• Outcomes thwarted unfavorable investor telecom sentiment he attributes predominantly to AT&T Inc (NYSE: T) capex cuts.

• Koontz up to date F23 income and EPS estimates have been almost double his December 13 initiation.

• 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.

• Northland Capital Markets analyst Tim Savageaux maintained an Outperform and raised the worth goal from $110 to $120.

• Worth Motion: CLFD shares traded increased by 26.9% at $118.13 on the final verify Friday.

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