Harmonic Drive upgraded to Outperform from Underperform at Bernstein

Bernstein analyst Jay Huang upgraded Harmonic Drive to Outperform from Underperform based on the conviction that structurally, the company is undervalued, and cyclically, industry demand and company’s new order will bottom out in 2-3 quarters and share price well before that. The firm is, however, agnostic whether the best entry point is already behind or still in front of us.