CommScope downgraded to Underperform from Market Perform at Raymond James

Raymond James downgraded CommScope (COMM) to Underperform from Market Perform without a price target The positive catalysts of the company’s refinancing now behind it, and Raymond James sees incremental downside risk and limited upside, the analyst tells investors in a research note. The firm says the risk of bankruptcy has been deferred and the balance sheet has improved. However, it does not envision “easy fixes,” and feels the stock “will exhibit high volatility.” CommScope’s high leverage burdens the stock’s valuation, it adds.