Piper Jaffray Initiates Coverage on CommScope (CTV) with a Buy; Well Positioned to Benefit From Increased Capacity
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Piper Jaffray & Co. initiates coverage on CommScope Inc. (NYSE: CTV) with a Buy. Price target $32.
Piper analyst says, "Based on Q109 results and our industry checks, we believe Q109 marks the bottom for channel inventory reductions at leading CommScope customers, and we believe CommScope should post recovering sales. Further, aggressive cost reductions, improving factory utilization rates, favorable commodity pricing trends, and lower debt interest expenses should lead to a strong sequential earnings recovery for the next couple of quarters...With strong growth in smartphone sales leading to increasing data traffic, we believe CommScope is well-positioned to benefit from increased capacity spending by wireless operators. Further, with China and India likely to continue strong wireless growth and spending trends, CommScope is well-positioned with growing share in these markets."
To see more analyst ratings on CTV Click Here.
CommScope, Inc. (CommScope) is engaged in providing infrastructure solutions for communication networks.
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