CommScope upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Meta Marshall upgraded CommScope (COMM) to Equal Weight from Underweight with a price target of $17, up from $4. The firm says the sale of CCS unit at a “substantial premium to traditional trading ranges” allows CommScope to remove its debt load. The proceeds should allow the company to repay all its outstanding maturities and redeem all outstanding preferred equity, the analyst tells investors in a research note. Morgan Stanley sees this as a right move for CommScope and upgrades the shares, but still views CommScope’s longer term outlook as challenged.