COMM - CommScope rises 6% as analysts praise Home Networks spin-off talk

CommScope (COMM) is 5.9% higher today, building on gains after it announced a planned spin-off of its Home Networks business. Analysts across the spectrum are uniformly positive on the development. Rosenblatt Securities upgraded the stock to Buy from Neutral, and boosted its price target to $21 from $14.50, matching Credit Suisse's target on the shares. That target implies 22% upside. The firm says spinning off the Home Networks unit should bring a "much more attractive investor view" of the business left behind. Jefferies is positive on the move, if more cautious on the company prospects overall, rating it Hold (but boosting its target to $15.50 from $12.50). It says the move is a good one, but cautions that de-leveraging the business will take a "very long time." And even Sell-rated Citi likes "a bold move to try and create shareholder value." The firm is waiting to see if management can

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CommScope rises 6% as analysts praise Home Networks spin-off talk