Sprint (S) PT Raised to $4.50 at Jefferies
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- Stifel Raises Price Target on Clean Harbors (CLH) to $60; Reiterates Buy
- Stifel Reiterates Buy on Selecta Biosciences (SELB) Following Phase l Data Release
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!