Sprint Nextel (S) Shares Rally Sharply Amid Credit Suisse Upgrade
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Shares of Sprint Nextel (NYSE: S) have spiked sharply today following an upgrade from Credit Suisse this morning. After gapping about 6% higher as the opening bell rang, the stock is now up 14.3% to around $3.55.
The firm moved its investment rating on Sprint from Neutral to Outperform while at the same time adding the stock to its Focus List. Credit Suisse also raised its price target on the stock from $4 to $6, suggesting potential upside of about 69% from today's level. To put it briefly, Credit Suisse called Sprint "one of the few stocks in our coverage universe with a legitimate chance of doubling over the next 18 months."
To see all the market-moving upgrades/downgrades on shares of Sprint, visit our Analyst Ratings page.
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