Sprint Corp. (S): Raising Price Target On Improving Sub Growth - FBR

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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