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Research Alert: CFRA Maintains Hold Opinion On Shares Of Commscope Holding Company, Inc.

05/10/2021 01:58

05:50 AM EDT, 05/10/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $2 to $20, 10.1x our '21 EPS estimate, comparable to its five-year forward average P/E at 10.4x, reflecting our improving growth outlook and benefits from the announced spin-off of its Home Networks segment. We increase our '21 and '22 EPS estimates by $0.11 to $1.99 and $2.33, respectively. COMM reported Q1 operating EPS of $0.36 vs $0.12, $0.07 above consensus. Q1 revenue increased 2%, driven by 29% growth in the Broadband Networks segment, fueled by a significant increase in demand for fiber cable enclosures in its Network Cabling & Connectivity business and strong sales of optical nodes and head-end optics in its Access Technology business, offset by an 8% decline in the Outdoor Wireless Networks segment, due to declining sales in both its macro tower and metro layer solutions, and a 19% decline in the Home Network segment, as the ongoing semiconductor shortage prevented it from meeting demand.