Analyst Sees High Probability Leap Wireless (LEAP) Gets Acquired Soon

With the consolidation in the wireless sector fast and furious, Leap Wireless (NASDAQ: LEAP) remains one of the few left standing. This could all change soon, according to those in the know.

Guggenheim analyst Shing Yin sees a "high likelihood" that Leap Wireless will get acquired by a combined MetroPCS (NYSE: PCS)/T-Mobile. The analyst said a price tag of $9-$10/share as justifiable and places the probability of a deal in the next six months at 70%.

The analyst reiterated a Buy rating on Leap and raised his price target from $7 to $8.50.

For an analyst ratings summary and ratings history on Leap Wireless click here. For more ratings news on Leap Wireless click here.

Shares of Leap Wireless are up 9.5 percent today to $6.88.

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