Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/stories/2004-06-27/schwab-soundview-upgrades-harmonic-rating

Markets & Finance

Schwab SoundView Upgrades Harmonic Rating


Schwab SoundView upgraded its investment recommendation on shares of Harmonic (HLIT) to outperform from neutral.

Analyst Dennis Gallagher says his optimism for Harmonic's long-term growth has been improved by the belief that recent announcements of video initiatives by major telecommunications services providers will drive the demand for video encoding and transmission equipment in 2005 as deployments of video over DSL and video into fiber-to-the-premise (FTTP) begin. He believes telco customers will emerge as big part of Harmonic's 2005 revenue. Gallagher sees a growing need for video encoding and multiplexing equipment as multiple systems operators transition networks to all-digital and add high definition channels -- which favors Harmonic's digital strength.

The analyst sees Harmonic's 2004 EPS at 13 cents; he increased his 2005 estimate from 29 cents to 33 cents. He also raised his $12 price target to $12.50.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus