From Financial Modeling Prep: 2025-01-09 09:38:00

Barclays analysts downgraded Harmonic (NASDAQ:HLIT) from Overweight to Equalweight, lowering the price target to $14 from $17. Concerns arise over a projected 2025 slowdown in the broadband segment due to supply chain challenges and customer deployment strategies reassessment.

Harmonic faces a deceleration in broadband growth, with amplifier supply constraints and delays in customer rollout plans for Unified 4.0 platform. While long-term opportunities exist, benefits are expected to materialize gradually. Partnership with Sercomm aims to diversify amplifier supply, but impact will take time.

Customer concentration, especially with a top cable client, raises concerns amid uncertainty in the cable market. Despite challenges, Harmonic maintains a competitive edge in next-generation cable solutions, poised to gain market share over time.



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