Friday December 28, 12:59 PM
CommScope "outperform," target price raised
NEW YORK, December 28 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on CommScope Inc (NYSE: CTV - news) (ticker:
CTV), while raising their estimates for the company. The target price has been raised from $54 to $55.
In a research note published this morning, the analysts mention that the company has completed the acquisition of Andrew Corporation (NASDAQ: ANDW - news) for $2.65 billion. The deal is expected to be accretive to CommScope's 2008 EPS by $0.19, the analysts say. The combined entity's EPS growth is likely to boosted by cost savings and synergies going forward, Robert W Baird adds. The EPS estimate for 2008 has been raised from $3.06 to $3.25.
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