Northland analyst Tim Savageaux lowered the firm’s price target on CommScope (COMM) to $6 from $9 and keeps a Market Perform rating on the shares. Recent data points across the Communications Technology sector point to areas of slowness in Carrier spending, in addition to the more prominent supply/inventory impacts driving shortfalls at Lumentum (LITE) and Adtran (ADTN), the analyst tells investors in a sector preview note. Slower carrier and OEM spending was cited in misses from Viavi (VIAV), AudioCodes (AUDC) and A10 Networks (ATEN), which adds weight to slowdown concerns at AT&T (T), the analyst added.
Published first on TheFly
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