Soleil Securities Upgrades Leap Wireless (LEAP) to Buy
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Soleil Securities upgrades Leap Wireless (Nasdaq: LEAP) from Hold to Buy with a $60 price target, citing valuation.
The firm raised '08 loss estiamtes on Leap Wireless to ($1.56) from ($0.46) reflecting weak 2Q and management guidance and '09E to ($0.64) from $0.79.
The firm said, "We believe that the worst of the economic problems are behind us, and expect to see subscriber growth accelerate over the next few quarters."
Leap Wireless International, Inc., together with its subsidiaries, provides digital wireless services in the United States under the 'Cricket' and 'Jump' brand name.
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