Nomura Securities Encouraged Near-Term on Sprint (S) After Meeting W/Mgmt; Long Run Still Looks Dim Against T & VZ

June 21, 2012 9:47 AM EDT
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Price: $8.93 -0.45%

Rating Summary:
    8 Buy, 26 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities maintains a 'Neutral' on Sprint (NYSE: S) price target of $2.50.

Analyst, Mike McCormack, said, "We met with Steve Elfman, President, Network Operations and Wholesale, and Brad Hampton, Vice President of Investor Relations in Kansas City. Overall, the meetings support our view that Network Vision remains on schedule. Management indicated that the company was unlikely to follow suit on shared data pricing. We expect the Street to look positively on Sprint shares over the next few quarters as the progress on Network Vision remains the key focus. Longer term, we remain concerned that inferior scale, high leverage, and poor positioning vis-a-vis AT&T (NYSE: T) and Verizon (NYSE: VZ) do not bode well for the shares."

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

Shares of Sprint closed at $3.13 yesterday.

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