Harmonic Inc. (HLIT) PT Raised to $15 at Needham

Needham analyst Ryan Koontz raised the price target on Harmonic Inc. (NASDAQ: HLIT) to $15.00 (from $12.00) while maintaining a Buy rating.

The analyst comments "HLIT beat consensus revenue/EPS estimates by 12%/$.07 with both its segments delivering a 2nd consecutive Q of growth. Consistent with our SCTE findings, 3Q Comcast and RoW spending was robust, but HLIT guided 4Q down about the size of the 3Q beat due to the expected transition to D4U hardware nodes at Comcast and other early adopter customers. We expect Charter to resume software license procurement in 4Q and RPD hardware in 1H26 after inventory drawdowns. We are enthused to hear the Comcast transition will be completed in C25, setting up a "clean slate" for long-anticipated outperformance in C26."

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