- Needham analyst Ryan Koontz raised the price target on Harmonic Inc (NASDAQ:HLIT) to $17 from $15 and kept a Buy rating.
- The company’s investor day presentation saw higher expectations for its broadband segment to achieve above 34% revenue CAGR over the next three years.
- HLIT also lifted its 2025 revenue target by 64% over its previous 2024 target.
- FTTH sales to cable operators are the most significant growth contributor, likely to exceed $160 million in 2025 from near zero today.
- Broadband EBITDA margin targets similarly impressed, expanding from 20% to 28% in 2025.
- The company’s less strategic video segment will likely improve its EBITDA margin to 16%.
- He found HLIT well positioned to sustain its dominant position in next-generation cable infrastructure as operators fend off increasing threats from new FTTH and fixed wireless builds.
- Price Action: HLIT shares traded higher by 6.34% at $11.91 on the last check Friday.
- Photo By Michal Jarmoluk Via Pixabay
Corning’s Outlook Signals Sales Challenges In Q1, But CEO Foresees $3B Revenue Growth In Medium Term
Corning Inc (NYSE: GLW) reported Q4 FY23 sales decline of 10% to $3.27B, beating consensus. Sales grew in Display, declined in Optical Comm, and improved in Life Sciences. Q1 outlook below consensus.
