Commscope Holding Company Now Covered by Analysts at Deutsche Bank (COMM)
Investment analysts at Deutsche Bank initiated coverage on shares of Commscope Holding Company (NASDAQ:COMM) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $22.00 price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 29.72% from the company’s current price.
The analysts wrote, “CommScope is provider of communication infrastructure equipment, primarily selling to service providers and enterprises. The company designs, manufactures and distributes equipment all over the world and is number one in the market where it competes – merchant RF infrastructure, structured cabling and connectivity solutions, and coaxial and fiber optic cables for broadband service providers. Given its scale, global reach and seasoned management team, we believe the company is well-positioned to continue to lead in these markets and generate strong free cash flow. As a result we initiate coverage on the company with a Buy rating and a $22 price target.”
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set a “hold” rating and a $17.50 price target on the stock. Finally, analysts at Mizuho initiated coverage on shares of Commscope Holding Company in a research note to investors on Wednesday. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Commscope Holding Company currently has an average rating of “Buy” and an average target price of $20.50.
Shares of Commscope Holding Company (NASDAQ:COMM) opened at 16.96 on Wednesday. Commscope Holding Company has a 1-year low of $14.77 and a 1-year high of $16.22. The stock’s 50-day moving average is $15.46 and its 200-day moving average is $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 for the quarter, missing the analysts’ 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.
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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