CommScope price target raised to $4.80 from $1.20 at BofA

BofA raised the firm’s price target on CommScope (COMM) to $4.80 from $1.20 and keeps an Underperform rating on the shares. Q4 results were better than expected and management’s indications on FY25 revenue growth and EBITDA were “well above expectations,” the analyst tells investors. The firm increased its price to reflect the improved balance sheet and outlook, but reiterates an Underperform rating as it sees limited upside potential to the equity given the high debt level, limited free cash generation and valuation considerations.