Morgan Stanley downgraded CommScope (COMM) to Underweight from Equal Weight with an unchanged price target of $5. The firm believes in a telecom spend recovery, but sees it as built into Street estimates for CommScope, limiting share upside. Given continued limited options on CommScope’s debt, the stock’s risk/reward is more tilted towards the base case, “leaving us more cautious,” the analyst tells investors in a research note.
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- CommScope Explores Debt Refinancing and Recapitalization Options
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
