Credit Suisse Believes COMM Still Has Room to Grow

By Carrie Williams

In a report released today, Kulbinder Garcha from Credit Suisse reiterated a Buy rating on CommScope Holding (NASDAQ: COMM), with a price target of $36. The company’s shares opened today at $32.30, close to its 52-week high of $33.09.

According to TipRanks.com, Garcha is a 5-star analyst with an average return of 5.9% and a 59.6% success rate. Garcha covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Lexmark International, and Motorola Solutions.

Currently, the analyst consensus on CommScope Holding is Strong Buy and the average price target is $36.33, representing a 12.5% upside.

In a report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $38 price target.

The company has a one year high of $33.09 and a one year low of $19.37. Currently, CommScope Holding has an average volume of 1.69M.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2016, Philip Martin Armstrong, the SVP, Corporate Finance of COMM sold 15,000 shares for a total of $465,000.

CommScope Holding Co., Inc. operates as a holding company which provides connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks through its subsidiary, CommScope, Inc. It operates through the following segments: Wireless, Enterprise and Broadband. The Wireless segment provides merchant radio frequency wireless network connectivity solutions and small cell DAS solutions. The Enterprise segment provides connectivity and network intelligence for data centers and commercial buildings. The Broadband segment consists of cable and communications equipment that support the multi-channel video, voice and high-speed data services provided by cable operators. The company was founded on October 22, 2010 and is headquartered in Hickory, NC.