Auriga Upgrades Sprint (S) to Buy

Auriga upgrades Sprint (NYSE: S) from Hold to Buy and raises their price target form $5.50 to $7, citing improved expectations for net subs.

The firm said, "While the shares remain wildly volatile, we base our upgrade on strong continued demand for Sprint’s Boost prepaid offering, combined with an expected slowing in post-paid subscriber losses starting in 2H09. With the stock down more than 20% over the past two weeks, it is now much closer to our floor $4 valuation estimate, thus making the risk/reward attractive, in our view."

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