Jefferies Has Hold On Harmonic Inc. (HLIT)

Jefferies & Co. has a Hold rating and a $9 price target on shares of Harmonic Inc.

after the company reported earnings. In a note to clients, Jefferies writes, "We continue to believe the risk/reward presented by Harmonic shares is fairly balanced - we don't find the current (roughly average) valuation of 15x 2012 EPS particularly attractive right now." Shares of HLIT are down 50 cents to $8.58, a loss of 5.5% in early Friday trade.