Brean Murray Assumes Harmonic (HLIT) with a Buy
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Brean Murray assumes coverage on Harmonic (NASDAQ: HLIT) with a Buy rating and a $13 price target.
The firm said, "We are assuming coverage of HLIT with a Buy rating and $13 target price, viewing the shares as an attractive play on the proliferation of broadband content. We expect Harmonic to benefit from an increasing competitive environment among cable, telco and satellite operators. Demand for the company’s encoding and video stream processing equipment should grow significantly driven by: IPTV network build-outs, growth in HD video content, increased delivery of video to mobile phones and PDAs, and the proliferation of VOD and SDV services."
Harmonic designs, manufactures, and sells video products and system solutions that enable service providers to deliver broadcast and on-demand services.
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