Credit Suisse analyst Sami Badri reiterated a Hold rating on CommScope Holding (NASDAQ: COMM) today and set a price target of $31. The company’s shares opened today at $29.85.
Badri wrote:
“We note that management’s long-term expected adj. net income low double-digit growth is above its guided net sales growth in the mid-single digits. Furthermore, the company intends to de-lever its balance sheet from ~4.3x net leverage today to target range of ~2-3x, driving EPS growth, which we view is a testament to the company’s strong M&A integration and execution capabilities, a positive for the company despite recent customer headwinds.”
According to TipRanks.com, Badri is a 1-star analyst with an average return of -4.7% and a 43.3% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and Juniper Networks.
CommScope Holding has an analyst consensus of Moderate Buy, with a price target consensus of $36.57.
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The company has a one-year high of $41.60 and a one-year low of $26.29. Currently, CommScope Holding has an average volume of 1.69M.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COMM in relation to earlier this year. Last month, Philip Martin Armstrong, the SVP, Corporate Finance of COMM bought 10,000 shares for a total of $57,400.
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CommScope Holding Co., Inc. engages in the provision of infrastructure solution for the core, access, and edge layers of communication networks. It operates through CommScope Connectivity Solutions (CCS), and CommScope Mobility Solutions (CMS) segments.
