UPDATE: Bank of America Merrill Lynch Initiates Buy On CommScope On LTE Growth And Data Center Modernization

In a report published Wednesday, Bank of America Merrill Lynch analyst Tal Liani initaited a Buy rating on CommScope COMM and a price target of $19.00. In the report, Bank of America Merrill Lynch says "We initiate coverage of CommScope with a Buy rating and a $19 PO. The company is a leading provider of antennas, cabling, and connectivity solutions for enterprise and service provider customers. CommScope is a relatively low risk play on several important growth themes, such as LTE growth and data center modernization, in our view. The company offers stable ~4% revenue growth, modest margin expansion, solid cash flow generation (~10% FCF yield) and significant debt reduction plans that should result in net income growth of 18% and 16% in 2014 and 2015." CommScope closed on Tuesday at $16.96.