Raymond James double upgraded CommScope (COMM) to Outperform from Underperform with a $19 price target after the company solid its CCS unit for $10.5B. The company also reported solid Q2 results as its fundamentals improved due to inventory normalization and cable TV upgrades, the analyst tells investors in a research note. The firm says the $10B in proceeds from the CCS sale enables CommScope to repay $7.2B of debt and pay a special dividend to shareholders. The “improved balance sheet saves the company,” contends Raymond James.
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