Sprint Corp. (S): Raising Price Target On Improving Sub Growth - FBR
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Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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FBR Capital analyst, David Dixon, reiterated his Outperform rating on shares of Sprint (NYSE: S) and raised his price target to $11 on the expectation of improved sub growth and FCF growth following the introduction of higher-power devices this year.
The analyst expects Sprint to sustain lower-than-expected capex and the market to assign a higher value to the spectrum-portfolio due to the passage of High Power User Equipment (HPUE) by the 3GPP standards body. This should increase the asset's appeal across the industry and increase the probability of a merger with TMUS under a new Republican-led Administration.
The new $11 PT is up from $8.
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 $8.79 yesterday.
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