Now that integration with Omneon has been largely completed, it appears Harmonic (NASDAQ:HLIT) is poised to capture more of the broader video market.
Barclays said, "Following management's recent analyst update and in conjunction with our launch on cable equipment provider ARRIS (Nasdaq:ARRS), we update our outlook on Harmonic. Overall, post the integration of Omneon, the "new" Harmonic seems to be well positioned in capturing opportunities in the broader video market. The company seems to be benefitting from ongoing operator investment in core areas of HD and VOD content as well as expanded opportunities in mobile, OTT services, content creation, storage and distribution. Though we maintain a EW largely on valuation, we lift our price target."
Barclays maintains an "Equalweight" on Harmonic Inc., which last closed at $8.53, down $0.08, or 0.93 percent. Barclays raised their price target on them from $8 to $9.
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