Got this from Yahoo board...any comments ???
<<HC: Meeting with management
by: smokethispipe (43/M/Dallas)
Long-Term Sentiment: Hold 08/19/02 01:00 pm
Msg: 74949 of 74951
IN case anyone gives a shit, I got this from the cooler board...
HLIT: REITERATE BUY – A POSITIVE MEETING WITH MANAGEMENT
* We are reiterating our BUY/Speculative Risk rating in the shares of Harmonic.
Our 12-month price target remains $10, which is based on 2x estimated 2003
sales of $280 million.
* Yesterday, we had a positive meeting with a senior financial representative
of the company. Several key points were made.
* First, the company appears confident that future cash burn will be limited.
* Second, Harmonic appears to be the leader in Gigabit Ethernet video-on-demand
transport systems.
* Third, Cox’s (COX: $20.19) decision to delay its roll out of video-on-demand
does not appear to be representative of the entire cable industry.
* Fourth, the domestic satellite local channel opportunity remains significant.
* Fifth, Harmonic is currently shipping fiber-optic cable equipment to AT&T
Broadband (T: $8.69). If AT&T were to increase its’ spending, it could become
a 10% customer for Harmonic.
* Sixth, Harmonic expects to ship the CURBswitch in limited commercial
quantities later this year.
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* We are reiterating our BUY/Speculative Risk rating in the shares of Harmonic.
Our 12-month price target remains $10, which is based on 2x estimated 2003
sales of $280 million. At current levels, trades at 0.18x estimated calendar
2002 sales, a substantial discount to the company’s peers, the private market
valuation of cable transmission companies, and venture capital valuations. The
current stock price gives no credit to Harmonic’s technological prowess or
leadership position in the video-on-demand transport area.
END
All the hype in the world hasn't seemed to have done shit for this stock, but time will tell the real story.>> |
