Harmonic, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Ryan Koontz from Needham maintained a Buy rating on the stock and has a $15.00 price target.
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Ryan Koontz has given his Buy rating due to a combination of factors that highlight Harmonic’s potential for future growth. The company exceeded expectations in both revenue and earnings per share, with both of its segments showing consecutive quarters of growth. This performance aligns with findings from the SCTE, indicating strong spending from Comcast and other regions in the third quarter.
Despite a guidance adjustment for the fourth quarter, attributed to a transition to new hardware nodes at Comcast and other early adopters, Koontz remains optimistic. He anticipates that Charter will resume software license procurement and hardware purchases in the coming quarters. The completion of the Comcast transition by 2025 is expected to set the stage for significant outperformance in 2026, leading to an increased price target of $15, reflecting improved confidence in the company’s outlook.