News

DBS Contract Aids Harmonic

6/10/2001 8:00 PM Eastern

UBS Warburg analyst Anton Wahlman raised his price target on Harmonic Inc. from $8 to $15, based on his belief that a recent digital-encoder contract with satellite-TV provider DirecTV Inc. could translate into $42 million in revenue. In May, Harmonic announced a contract for "hundreds" of encoders for DirecTV, a number that Wahlman estimated could be as high as 700. Harmonic stock closed at $10.25 per share on June 4, up 24 cents.

September