Pivotal Research Maintains a 'Buy' on Leap Wireless (LEAP); Disconnecting COO, But Thesis Still Intact
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Price: $5.87 -3.77%
Rating Summary:
6 Buy, 14 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 14 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade LEAP Now!
Pivotal Research maintains a 'Buy' on Leap Wireless (NASDAQ: LEAP) price target of $9.00.
Analyst, Steve Sweeney, said, "This morning, LEAP announced that COO Raymond Roman will be leaving the company after 1.5 years. We would view this as a near-term negative, and the stock is down 7% on the day, but it does not change our investment thesis. LEAP has reshuffled management and recently hired a new CFO Jerry Elliott who we view as a very solid executive. From our perspective, it looks like Mr. Roman was pushed out as part of a house cleaning...we continue to think that expectations for Q2 and Q3 are already quite low and the stock is cheap relative to its growth prospects."
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 closed at $6.50 yesterday, with a 52 week range of $4.68-$15.21.
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Analyst, Steve Sweeney, said, "This morning, LEAP announced that COO Raymond Roman will be leaving the company after 1.5 years. We would view this as a near-term negative, and the stock is down 7% on the day, but it does not change our investment thesis. LEAP has reshuffled management and recently hired a new CFO Jerry Elliott who we view as a very solid executive. From our perspective, it looks like Mr. Roman was pushed out as part of a house cleaning...we continue to think that expectations for Q2 and Q3 are already quite low and the stock is cheap relative to its growth prospects."
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 closed at $6.50 yesterday, with a 52 week range of $4.68-$15.21.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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