Deutsche Bank analyst Matthew Niknam downgraded CommScope to Hold from Buy with a price target of $6, down from $8. The downgrade is based on “lingering pressure” on customer orders, with recent data points indicating the lull is likely to persist in the interim, and more meaningful downside risk to consensus estimates, the analyst tells investors in a research note. The firm believes CommScope’s 2024E core adjusted EBITDA targets are likely to be revised lower.
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