Harmonic price target lowered to $17 from $20 at Barclays

Barclays lowered the firm’s price target on Harmonic (HLIT) to $17 from $20 and keeps an Overweight rating on the shares. The company’s Q3 beat expectations with broadband ahead of guidance and fiscal 2024 broadband guidance reaffirmed, the analyst tells investors in a research note. The firm says focus on the earnings call was the lowered 2025 broadband revenue expectations with Harmonic now expecting short-term headwinds, given customer deployment delays.