Kaufman Bros. Starts Harmonic Inc. (HLIT) at Hold; Concerns Remain

Kaufman Bros. initiates coverage on Harmonic Inc. (NASDAQ: HLIT) with a Hold. PT $6.50.

Kaufman analyst says, "We remain concerned by HLIT's recent weakness in the U.S. market, which is consistent with a generally muted cable MSO spend picture. Domestic 2Q11 revenue was down 15% Y/Y against an unsettled MSO spend backdrop...Longer term, global macro trends in video support a favorable catalyst roadmap for Harmonic with growth in content storage and management, signal compression and transcoding for multi-screen/multi-platform applications and bandwidth optimization of legacy HFC networks."

For more ratings news on Harmonic Inc. click here and for the rating history of Harmonic Inc. click here.

Shares of Harmonic Inc. closed at $5.29 yesterday.

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