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

Barclays analyst Tim Long raised the firm’s price target on Harmonic to $20 from $17 and keeps an Overweight rating on the shares. The analyst views the company’s slightly lower 2023 guidance as conservative given its backlog, deferred revenues and software-as-a-service video streaming wins, with upside coming from potential new Tier 1 wins.