Harmonic upgraded to Buy from Hold at Jefferies

Jefferies analyst George Notter upgraded Harmonic to Buy from Hold with a price target of $19.00, up from $14.25. Harmonic’s CableOS business is primed to benefit from accelerating Cable MSO capex spending, increased technology/standards cohesion across the industry, and a relatively benign competitive environment, Notter tells investors in a research note. The analyst thinks shares are too cheap for a company that’s well-positioned for a multi-year MSO capex spending cycle.