Harmonic Beats Q1 Earnings Estimates, Trex Company Upgraded to Buy, MSCI Receives Overweight Rating and Price Target at Wells Fargo
- May 09th, 2023
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Harmonic Inc. (Nasdaq: HLIT) reported better than expected Q1 earnings, with adjusted earnings per share (EPS) of $0.12, beating the consensus estimate of $0.08. This news led to a surge in the company's stock price, which rose by 19.70% to $16.14 in intraday trading.
Meanwhile, Wells Fargo initiated coverage of MSCI Inc. (NYSE: MSCI) with an Overweight rating and a price target of $570. However, the company's stock price fell slightly by 0.05%, trading at $472.66. The Overweight rating indicates that Wells Fargo analysts believe that MSCI's stock has the potential to outperform the broader market, and the price target suggests a considerable upside potential.
Lastly, Trex Company, Inc. (NYSE: TREX) was upgraded to Buy from Neutral by BofA Securities, following which the company's stock price increased by 8.92%, trading at $61.32. This upgrade indicates that BofA Securities analysts are optimistic about the company's growth prospects and believe that its stock is undervalued.
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