UPDATE: Jefferies Initiates Coverage on CommScope Holding Company with Hold Rating, $17.50 PT on Limited Margin Upside

In a report published Wednesday, Jefferies analyst George C. Notter initiated coverage on

with a Hold rating and $17.50 price target. In the report, Jefferies noted, “We're initiating research coverage of CommScope with a Hold rating. This is an excellent business. Nonetheless, we're hesitant to recommend the stock more aggressively as margin upside is limited and we're fearful that U.S. wireless equipment spending trends can't get much better. Jefferies acted as a bookrunning manager on CommScope's recent IPO.” CommScope Holding Company closed on Tuesday at $16.96.