Needham lowered the firm’s price target on Harmonic (HLIT) to $14 from $18 and keeps a Buy rating on the shares. The company delivered a very strong Q4 with revenue up 33%, but introduced a weaker FY25 guide than feared, driven by soft demand from its two major customers – Comcast (CMCSA) and Charter (CHTR), the analyst tells investors in a research note. Needham adds however that the Comcast transition to D4U is seen improving Harmonic’s strong competitive market position, with few competitive threats for the company.
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