Sprint's (S) 'Half Off' is Media Hype - Cowen

Cowen analyst, Colby Synesael, notes that Sprint's (NYSE: S) aggressive “50% off” announcement is not fundamentally differentiating and has been available for T/VZ customers for some time. This announcement seems largely targeted at TMUS so the impact of the announcement will have little impact on financial results.

Yesterday, after a few days of media hype, Sprint announced an aggressive pricing promotion claimed to be "the biggest wireless offer in U.S. history" by offering 50% off Verizon, AT&T, and T-Mobile current rate plans. The plan is similar to the current “Cut Your Bill in Half” plan offered to AT&T and Verizon customers, however now includes T-Mobile customers (except for T-Mobile’s $95/month unlimited plan). The offer is valid until January 8, 2018 for activations between November 20, 2015 and January 7, 2016, essentially a 7-week offer through the holidays.

No change to Market Perform rating or $3.50 PT.

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 $3.99 yesterday.

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