Sprint (S) PT Raised to $4.50 at Jefferies
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Jefferies analyst Mike McCormack raised his price target on Sprint (NYSE: S) to $4.50 (from $2.50) but maintained an Underperform rating.
McCormack commented, "Having preannounced better than expected results, the focus today was on ARPU, which was below estimates, though still reflected moderating declines. We take a modestly more constructive view on shares given subscriber, ARPU, and EBITDA progress, and raise our price target to $4.50. Nevertheless, we remain cautious, given concerns of under-investment in the network, high leverage, and valuation versus the peer group."
Shares of Sprint closed at $6.50 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
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