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Fly News Breaks for February 12, 2020
S, TMUS, COMM
Feb 12, 2020 | 07:13 EDT
Credit Suisse analyst Sami Bradi notes that T-Mobile (TMUS) and Sprint (S) announced that Judge Victor Marrero of the U.S. District Court for the Southern District of New York ruled a favorable decision, declining to block the proposed merger of the two companies. The new merged T-Mobile would possess the largest mid-band spectrum holding, but could face operational disruption until the merger is completed, he adds. The analyst believes CommScope (COMM) will be a "key beneficiary" if the deal closes as the new, merged company will need to scale out for 5G and "fill in" network gaps requiring more equipment deployments. Bradi reiterates an Outperform rating and a $21 target price on CommScope shares.
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