A 'Dominant' Next-Gen Cable Stock Just Surprised With Big New Forecasts

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  • Needham analyst Ryan Koontz raised the price target on Harmonic Inc HLIT to $17 from $15 and kept a Buy rating. 
  • The company's investor day presentation saw higher expectations for its broadband segment to achieve above 34% revenue CAGR over the next three years.
  • HLIT also lifted its 2025 revenue target by 64% over its previous 2024 target. 
  • FTTH sales to cable operators are the most significant growth contributor, likely to exceed $160 million in 2025 from near zero today. 
  • Broadband EBITDA margin targets similarly impressed, expanding from 20% to 28% in 2025.
  • The company's less strategic video segment will likely improve its EBITDA margin to 16%. 
  • He found HLIT well positioned to sustain its dominant position in next-generation cable infrastructure as operators fend off increasing threats from new FTTH and fixed wireless builds.
  • Price Action: HLIT shares traded higher by 6.34% at $11.91 on the last check Friday.
  • Photo By Michal Jarmoluk Via Pixabay
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Posted In: Analyst ColorNewsPrice TargetReiterationSmall CapAnalyst RatingsTechBriefs
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