CommScope price target raised to $20 from $12 at Northland

Northland raised the firm’s price target on CommScope (COMM) to $20 from $12 and keeps an Outperform rating on the shares following the “twin disclosures” yesterday morning of the sale of the CCS unit to Amphenol (APH) for $10.5B in cash and “much better than expected” Q2 results. ANS and Ruckus will be the go forward units, notes the analyst, who believe valuation metrics on these units can approach 10-times EBITDA with both in “cyclical growth mode.”