Bernstein Goes Back on Recent Upgrade: Cuts Sprint (S) to Underperform Today
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Price: $21.82 --0%
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 14
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 14
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After upgrading the stock to Market Perform as recently as March 14, Bernstein is downgrading shares of Sprint (NYSE: S) back to Underperform today.
The firm's lowered investment rating follows news that AT&T (NYSE: T) will acquire T-Mobile and the resulting nearly 15% plunge in Sprint shares this morning.
Bernstein reduced its price target on Sprint shares from $5 to $3.
With Sprint shares down to around $4.30 today, Bernstein's new price target implies potential further downside of about 30%.
For more ratings news on Sprint click here and for the rating history of Sprint click here.
The firm's lowered investment rating follows news that AT&T (NYSE: T) will acquire T-Mobile and the resulting nearly 15% plunge in Sprint shares this morning.
Bernstein reduced its price target on Sprint shares from $5 to $3.
With Sprint shares down to around $4.30 today, Bernstein's new price target implies potential further downside of about 30%.
For more ratings news on Sprint click here and for the rating history of Sprint click here.
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