CommScope -4.3% as Rosenblatt cuts Buy rating

October 29, 2019
Ryan Koontz
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Seeking Alpha

-CommScope (NASDAQ:COMM) is 4.3% lower premarket after a downgrade to Neutral at Rosenblatt, from Buy.

-That comes amid increasing decentralization in cable, where spending patterns are "even worse than our low expectations."

-“We view COMM as exposed to share loss in cable operators from the transition to distributed access architecture,” analyst Ryan Koontz says.

-He's cut his price target to $13 from $16, implying 10.5% upside from yesterday's close.

-CommScope reports earnings Nov. 7 before the open; it's expected to post EPS of $0.44 on revenues of $2.43B.

-Sell-side analysts rate it Outperform on average, and it has a Quant Rating of Very Bearish.

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