Jefferies analyst George Notter lowered the firm’s price target on Harmonic (HLIT) to $16 from $18 and keeps a Buy rating on the shares. Based on conversations at the SCTE trade show, the firm says it seems that the Phase 2 portion of Charter’s (CHTR) network rollout will take longer than expected, the analyst tells investors. While the firm still believes Harmonic is primed to benefit from accelerating Cable MSO capex spending and “a relatively benign competitive environment,” it is reducing expectations given what it sees as a slower Charter deployment.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HLIT: