Comtech upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Comtech to Hold from Underperform with an unchanged price target of $3.50. The company last week announced a new credit facility, which takes the near-term balance sheet risk off the table, the analyst tells investors in a research note. However, the firm says Comtech’s funding is expensive, and it still has reservations about the unbilled receivables and “going-concern” language.