Calix, Harmonic remain Jefferies’ ‘favorite longs’ in Telecom & Networking

Following the firm’s two-day Semis, IT Hardware & Communications Technology conference that featured 18 Communications Infrastructure suppliers, Jefferies said the pacing of excess customer inventory digestion “remains a major theme among the equipment supplier vendors.” In that context, the firm continues to believe this will remain an overhang on stock performance over the balance of the year and within the analyst’s research group, Calix (CALX), Harmonic (HLIT) and Motorola Solutions (MSI) “remain our favorite longs,” the analyst tells investors.