BUZZ-Improved BEAD prospects fuels Northland Capital to upgrade Clearfield to 'outperform'

Reuters11-26
BUZZ-Improved BEAD prospects fuels Northland Capital to upgrade Clearfield to 'outperform'

** Northland Capital upgrades fiber management specialist Clearfield CLFD.O to "outperform" from "market perform"; reiterates PT at $45

** Shares of CLFD rise about 7.3% to $30.07 in morning trading

** Brokerage upgraded CLFD because BEAD funding progress and approvals significantly improve long-term growth visibility, outweighing short-term softness

** Northland Capital sees opportunity of $250 million annually where it expects CLFD to capture a majority share, or roughly the same as the $150 million that CLFD reported in FY25

** "We believe BEAD and its associated positiveimpacts on private funding can help drive consistent 20%+ growth," Northland Capital says

** 3 of 4 brokerages rate stock "buy" or higher, 1 "hold"; their median PT is $44 - data compiled by LSEG

** Including session's moves, CLFD stock down ~3% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

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