UPDATE: Rosenblatt Upgrades CommScope Holding (COMM) to Buy

April 8, 2021 4:15 PM EDT
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Price: $16.22 --0%

Rating Summary:
    18 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 17 | New: 17
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(Updated - April 8, 2021 4:16 PM EDT)

Rosenblatt analyst Ryan Koontz upgraded CommScope Holding (NASDAQ: COMM) from Neutral to Buy with a price target of $21.00.

The analyst comments "Coupled with our higher confidence in top-line growth from these programs, the spinout of the Home unit (SpinCo) to COMM shareholders should result in a much more attractive investor view of the remaining (RemainCo) COMM business (see figure 1). We estimate bottoms-up CY21/CY22 revenue growth estimates of 8.5% / 5.3% for RemainCo with steady ~40% gross margins and value RemainCo at ~9x EV/EBITDA or 2x EV/sales. Even though we are far less bullish on the prospects for SpinCo, just 0.3x CY22 EV/Sales for the unit, we value COMM with a new price target of $21."

For an analyst ratings summary and ratings history on CommScope Holding click here. For more ratings news on CommScope Holding click here.

Shares of CommScope Holding closed at $15.42 yesterday.


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