BofA lowered the firm’s price target on CommScope to $1 from $2 and keeps an Underperform rating on the shares. Q4 revenues missed the Street’s view and the firm sees risk to the company’s growth outlook over the next year. The firm, which models 2024 EBITDA to decline 37% year-over-year, flags that management’s plan for the $1.275B debt repayment/restructuring due June 2025 remains uncertain and flags further risk with CommScope’s capital structure, the analyst tells investors.
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