Harmonic win worth $350M-plus over three years, says Jefferies

After Harmonic (HLIT) announced that they’ve won a deal with Charter (CHTR), where they’ll deploy their CableOS platform in a Distributed Access Architecture that supports DOCSIS 3.1 and DOCSIS 4.0 technology, Jefferies analyst George Notter called it "a big deal that we expected would happen." The firm, which "conservatively" estimates the Charter network upgrade could represent about a $350M hardware opportunity for Harmonic, notes that its analysis does not include potential vCMTS software revenue nor its participation in Charter’s greenfield builds, summing up that "this is a significant revenue opportunity." The firm, which is maintaining its 2024 revenue and EPS projections at $830M and $0.95, respectively, for Harmonic reiterates a Buy rating and $19 price target on the shares.