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Fly News Breaks for May 2, 2018
COMM
May 2, 2018 | 08:13 EDT
Northland analyst Tim Savageaux upgraded CommScope to Outperform from Market Perform as he believes the company's unique mix of exposure to Tier 1 carrier investment in both fiber optic and 4G/5G wireless infrastructure offers compelling value following the sharp pullback in shares after only a "fairly modest" cut to its EPS expectations. He sees margin challenges stemming from pricing pressure and input cost increases playing to CommScope's cost cutting and execution strength, Savageaux tells investors. He raised his price target on the stock to $34 from $33.
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