UPDATE: Deutsche Bank Upgrades CommScope Holding (COMM) to Buy
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Deutsche Bank analyst Matthew Niknam upgraded CommScope Holding (NASDAQ: COMM) from Hold to Buy with a price target of $21.00 (from $14.00).
The analyst comments "Addition by subtraction: We view CommScope's proposed spin of its Home Networks segment as a significantly positive step in helping enhance shareholder equity value. This is due to a meaningfully stronger growth/profitability profile of RemainCo (ex-Home Networks), which we believe the market is likely to value more favorably."
Shares of CommScope Holding closed at $17.29 yesterday.
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