Jefferies Downgrades Leap Wireless (LEAP) to Underperform, Not a 'Must Have' Asset

January 17, 2013 7:19 AM EST
Get Alerts LEAP Hot Sheet
Price: $17.52 --0%

Rating Summary:
    4 Buy, 22 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Jefferies downgraded Leap Wireless (NASDAQ: LEAP) from Hold to Underperform with a price target of $5.00 (from $6.00).

The firm note business trends have been weak in 2012 and they forecast that to continue. Related to takeover speculation, the firm doesn't not view Leap's spectrum as a "must-have" asset. Even if their is interest, they do not see any significant activity until 2H13.

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

Shares of Leap Wireless closed at $6.33 yesterday.

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