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Fly News Breaks for June 20, 2019
COMM
Jun 20, 2019 | 06:22 EDT
Goldman Sachs analyst Mark Delaney upgraded CommScope Holding to Buy from Neutral while lowering his price target for the shares to $19 from $20. The company can expand margins from a combination of lower input costs, as DRAM pricing and copper pricing have both fallen, and cost synergies from the Arris transaction, Delaney tells investors in a research note. The analyst views CommScope's price-to-earnings multiple as attractive given his expectations for "solid" free cash flow generation and debt reduction over time. Further, the company has opportunities to benefit from secular trends like 5G and datacenter, adds Delaney.
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