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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.
CLFD delivered one other strong quarter, with income and EPS forward of consensus.
Income grew +110% Y/Y, and he raised his F23 income and EPS estimates.
Group broadband gross sales remained sizzling (+91% Y/Y), and cable gross sales soared by +200% Y/Y.
The backlog remained robust and the working margin impressed at 23.4%.
Outcomes thwarted damaging investor telecom sentiment he attributes predominantly to AT&T Inc (NYSE: T) capex cuts.
Koontz up to date F23 income and EPS estimates had been practically 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 larger by 26.9% at $118.13 on the final test Friday.
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 |
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