Deutsche Bank Upgrades MetroPCS (PCS) to Buy

July 27, 2012 7:58 AM EDT
Get Alerts PCS Hot Sheet
Price: $11.84 --0%

Rating Summary:
    15 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
Trade PCS Now!
Join SI Premium – FREE
Deutsche Bank upgraded MetroPCS (NYSE: PCS) from Hold to Buy with a price target of $12.00 (from $9.00).

The firm comments, "Despite yesterday's massive outperformance (+37% vs. SPX +2%), we see at least 40% potential upside over the next 12 months for a few reasons. (1) Against a back-drop of low expectations, we believe that PCS's planned LTE product roll-out in 3Q/4Q could drive a sharper than anticipated return to sub and ARPU growth. (2) PCS has several potential strategic alternatives including spectrum deals and M&A (as cited by various media reports). (3) Valuation remains compelling; PCS is trading at a 30%+ discount to large cap wireless peers."

For an analyst ratings summary and ratings history on MetroPCS click here. For more ratings news on MetroPCS click here.

Shares of MetroPCS closed at $8.59 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst PT Change, Hot Upgrades, Upgrades

Related Entities

Deutsche Bank

Add Your Comment