BUZZ-Harmonic plunges on expectation of short-term headwinds

Reuters10-29

** Shares of video technology company Harmonic fall 17.7% to $12.2 premarket

** HLIT on course to open at three-month low, if losses hold

** Co now expects lower 2025 broadband revenue with short-term headwinds

** "We are seeing some customers pushing out their deployment timing plans, thus creating a short-term broadband revenue headwind in 2025," said CFO in earnings call

** HLIT forecasts Q4 profit between 33 and 39 cents per share, compared with estimates of 35 cents - LSEG

** Reports Q3 results above estimates

** Barclays cuts PT to $17 from $20

** Raymond James cuts rating from "Strong Buy" to "Outperform" with PT $14

** All six analysts tracking HLIT rate stock "buy" or higher, with median PT of $16

** As of last close, stock up 13.6% YTD

(Reporting by Ragini Mathur)

((Ragini.Mathur@thomsonreuters.com;))

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