CommScope price target raised to $5 from $2.70 at Morgan Stanley
The Fly

CommScope price target raised to $5 from $2.70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on CommScope (COMM) to $5 from $2.70 and keeps an Equal Weight rating on the shares. While the firm says it views CommScope as a “critical component of the service provider equipment ecosystem,” it also believes the current valuation implies there is significantly more optionality for the company’s $9.3B debt stack than the firm believes exists. The width of the risk/reward leaves the firm Equal Weight as it balances near term positive catalysts around refinancing and its “lean more cautious” on EBITDA prospects, the analyst tells investors.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App