Northland Securities Reaffirms Their Buy Rating on CommScope Holding (COMM)
In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on CommScope Holding (COMM), with a price target of $15.00. The company’s shares closed last Thursday at $11.07.
According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 11.4% and a 59.0% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
CommScope Holding has an analyst consensus of Moderate Buy, with a price target consensus of $13.67, which is a 24.4% upside from current levels. In a report issued on July 24, Wolfe Research also initiated coverage with a Buy rating on the stock with a $15.00 price target.
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Based on CommScope Holding’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.03 billion and GAAP net loss of $160 million. In comparison, last year the company earned revenue of $1.1 billion and had a GAAP net loss of $2.3 million.
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CommScope Holding Co., Inc. engages in the provision of infrastructure solutions for communications networks. It operates through the Connectivity Solutions (CCS), and Mobility Solutions (CMS) segments. The CCS segment offers innovative fiber optic and copper cable and connectivity solutions for use in data centers and business enterprise, telecommunications, cable television, and residential broadband networks. The CMS segment includes integral building blocks for cellular base station sites and related connectivity; indoor, small cell and distributed antenna wireless systems; and wireless network backhaul planning and optimization products and services. The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.