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Upgrade Alert for Harmonic (HLIT)

By Amy Schwartz

Harmonic (NASDAQ:HLIT) was upgraded from Hold to Buy at Drexel Hamilton today. The stock closed yesterday at $3.95 on volume of 2.5 million shares, above average daily volume of 602,000.

There is potential upside of 58.2% for shares of Harmonic based on a current price of $3.95 and an average consensus analyst price target of $6.25. The stock should hit resistance at its 200-day moving average (MA) of $4.59, as well as support at its 50-day MA of $3.29.

Harmonic share prices have moved between a 52-week high of $7.98 and a 52-week low of $2.51 and closed yesterday at 57% above that low price at $3.95 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.4%.

Harmonic Inc. designs, manufactures, and markets digital and fiber optic systems. The Company's systems enable cable, satellite, and wireless operators to deliver video, Internet, telephony, and high-speed data services. Harmonic's TRANsend digital product line combines and customizes content from a variety of sources.

SmarTrend recommended that subscribers consider buying shares of Harmonic on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.15. Since that recommendation, shares of Harmonic have risen 7.0%. We continue to monitor HLIT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades harmonic

Ticker(s): HLIT