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Fly News Breaks for February 20, 2019
HLIT
Feb 20, 2019 | 16:40 EDT
Stifel analyst John Marchetti initiated Harmonic with a Buy rating and $7 price target. The analyst views Harmonic as "well positioned to capture market share in its Cable Access business as the industry shifts to a more virtualized Converged Cable Access Platform approach and Distributed Access Architectures." While Marchetti expects the company's business to trough in the first half of the year, he sees accelerating earnings and revenue growth in the second half of 2019 and into 2020.
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