Calix: Morgan Stanley, Jefferies Launch Coverage With Buys

Calix (CALX) this morning picked up recommendations from analysts at both Morgan Stanley and Jefferies, both firms participants in the company’s March IPO. Yesterday, fellow underwriters Goldman and UBS launched coverage with Buy recommendations on the the telecom equipment company.

• Moragn Stanley analyst Ehud Gelblum launched with an Overweight rating and $14 price target. “Calix is well-positioned to benefit from the U.S. federal government’s $7.2 billion broadband stimulus program, the largest spending driver in our sector.”
• Jefferies & Co. analyst George Notter launched with a Buy rating $16 target. “Calix is a direct way to play the broadband stimulus plan,” he writes. “We expect Calix to begin recognizing revenues from this spending in late 2010, with the bulk of the benefit hitting the top-line in 2011 and 2012.”

CALX is down 8 cents, to $11.96.