Cowen initiates coverage of Clearfield Inc with "outperform"

Clearfield

04/01/2023 11:18

** Cowen and Company initiates coverage of fiber optic cable
provider Clearfield Inc  CLFD.O  with "outperform" rating and PT
of $141
    ** Says rating and PT reflect co's efforts in establishing a
leading position among industry peers
    ** Cowen sees upsides for co in fiber-to-the-home (FTTH) and
fiber-to-the-premises (FTTP) markets
    ** Brokerage forecasts 46% revenue growth, 100 basis points
above the high-end of Clearfield's guidance for FY23
    ** Four of five brokerages rate the stock "buy" and one
"hold;" their median PT is $135
    ** Up to Tuesday's close, stock had fallen ~3% YTD
 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))