Raymond James downgrades Harmonic to Outperform on growth deceleration
The Fly

Raymond James downgrades Harmonic to Outperform on growth deceleration

Raymond James downgraded Harmonic (HLIT) to Outperform from Strong Buy with a price target of $14, down from $17, post the Q3 report. The company said its visibility around 2025 demand implies cable edge segment growth decelerates rather than accelerates based on the rollout timing linked to availability of associated equipment and operational issues, the analyst tells investors in a research note. The firm says that while the delays are “strictly timing,” the market will “punish the stock” and the Harmonic’s fundamentals could slip by a year.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App