Harmonic price target raised to $20 from $16 at Rosenblatt

Rosenblatt raised the firm’s price target on Harmonic (HLIT) to $20 from $16 and keeps a Buy rating on the shares. The firm is “pounding the table” on the shares following the Q1 “beat and raise.” The results show Harmonic’s solid execution, customer diversification and a broadening product portfolio that is delivering the next generation broadband experience to a growing customer base, the analyst tells investors in a research note.