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Fly News Breaks for October 30, 2018
HLIT
Oct 30, 2018 | 06:31 EDT
Loop Capital analyst James Kisner kept his Buy rating and $8.25 price target on Harmonic after its Q3 results topped consensus, even though its Q4 guidance called for earnings below estimates on lower than expected gross margins of cable access nodes. The analyst says the revenue upside came "largely" from the Cable Edge segment, which grew the number of its customers with deployments from 20 in Q2 to 25 in Q3. The analyst maintains a positive view on Harmonic based on the "ongoing progress with customer trials and deployments reinforce our positive thesis".
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