BofA downgraded CommScope to Neutral from Buy with a price target of $1.75, down from $2.25. The company’s underlying trends have worsened substantially and its debt reduction actions remain uncertain, the analyst tells investors in a research note. The firm is “puzzled” why CommScope has not acted yet on its debt and notes that risks grow as the runway shortens. It sees a weak year ahead for the company.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on COMM:
- CommScope reports Q3 non-GAAP EPS 13c, consensus 30c
- Commscope Holding Company Inc (COMM) Q3 Earnings Cheat Sheet
- STMicroelectronics, CommScope announce integration of PKIWorks with STM32WB
- CommScope price target lowered to $4 from $6 at Northland
- CommScope reports preliminary Q3 revenue $1.6B, consensus $1.98B