Bank of America Corp. Initiates Coverage on Commscope Holding Company (COMM)
Equities researchers at Bank of America Corp. started coverage on shares of Commscope Holding Company (NASDAQ:COMM) in a research report issued on Wednesday, AnalystRatingsNetwork.com reports. The firm set a “buy” rating and a $19.00 price target on the stock. Bank of America Corp.’s price objective indicates a potential upside of 12.03% from the company’s current price.
The analysts wrote, “We initiate coverage of CommScope with a Buy rating and a $19 PO. The company is a leading provider of antennas, cabling, and connectivity solutions for enterprise and service provider customers. CommScope is a relatively low risk play on several important growth themes, such as LTE growth and data center modernization, in our view. The company offers stable ~4% revenue growth, modest margin expansion, solid cash flow generation (~10% FCF yield) and significant debt reduction plans that should result in net income growth of 18% and 16% in 2014 and 2015.”
Shares of Commscope Holding Company (NASDAQ:COMM) opened at 16.96 on Wednesday. Commscope Holding Company has a 52 week low of $14.77 and a 52 week high of $16.22. The stock has a 50-day moving average of $15.46 and a 200-day moving average of $15.46. The company has a market cap of $3.150 billion and a price-to-earnings ratio of 67.23.
Commscope Holding Company (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.10. The company had revenue of $888.01 million for the quarter, compared to the consensus estimate of $894.02 million. Analysts expect that Commscope Holding Company will post $1.59 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on COMM. Analysts at RBC Capital initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set an “outperform” rating and a $19.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set an “overweight” rating and a $24.00 price target on the stock. Finally, analysts at Evercore Partners initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $20.50.
CommScope Holding Company, Inc is a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks.
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