MetroPCS (PCS), Leap Wireless (LEAP) Could See Increased Competition

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Shares of MetroPCS Communications (NYSE: PCS) and Leap Wireless International Inc. (NASDAQ: LEAP) are holding in positive territory today despite rumblings a major player could soon enter the pre-paid market.

According to Piper Jaffray analyst Christopher Larsen, Verizon Wireless (NYSE: VZ) may start a new prepaid brand in time for the holiday season. Another worry is T-Mobile, which may increase competition by offering unlimited talk and text for around $30 per month.

The firm has a Neutral rating on PCS, LEAP and VZ.

PCS is up 2.1 percent, while LEAP is up 3.4 percent. Both are off the highs of the session.

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