COMM - CommScope climbs after Deutsche upgrade on spinoff network tailwinds

Seeing the proposed Home Networks spinoff as a significant step toward increasing shareholder value, Deutsche Bank upgrades CommScope (COMM) from Hold to Buy and raises the price target from $14 to $21.Analyst Matthew Niknam also sees "multiple network investment tailwinds" that will "drive improving growth from here." Multi-year carrier investments should benefit the Broadband Networks and Outdoor Wireless segments, which would represent 70% and 85% of total revenue, respectively, after the business separation.COMM shares are up 3% pre-market to $17.81.CommScope announced plans to spin off the Home Networks business last week.

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CommScope climbs after Deutsche upgrade on spinoff, network tailwinds