Sprint (S) PT Raised to $4.50 at Jefferies

October 26, 2016 8:22 AM EDT
Get Alerts S Hot Sheet
Price: $9.13 -0.54%

Rating Summary:
    8 Buy, 26 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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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."

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 $6.50 yesterday.

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