Northland lowered the firm’s price target on Harmonic (HLIT) to $16 from $18 and keeps an Outperform rating on the shares. The firm cut estimates following the company’s “mixed” Q4 report and outlook, which featured strong execution on the forecasted sharp recovery in Q4 results and a forecast for a lower Q1 and calendar 2024 outlook due to a slower ramp at Charter (CHTR) and an “abrupt” DOCSIS 4.0 transition at Comcast (CMCSA).
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