FBR Capital maintains a 'Market Perform' on MetroPCS (PCS); Strong 1Q11 Results; Positive Revenue Outlook
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Price: $11.84 --0%
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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FBR Capital maintains a 'Market Perform' on MetroPCS (NYSE: PCS), PT increased from $14 to $16.
FBR analyst says, "Looking forward, we anticipate cost of service to grow sequentially during FY11, largely as the result of growth in the subscriber base, coupled with moderate roaming pressure and increased network demand from smartphones, partially offset by the benefits of operating leverage. Furthermore, we anticipate cost of equipment to increase 37% in FY11 (before the impact of increased equipment revenues) as the company continues to experience a mix shift toward smartphones."
"We are raising our FY11 revenue estimate from $4.64 billion to $4.96 billion; however, our FY11 adjusted EBITDA estimate remains effectively unchanged at $1.29 billion. We are also introducing our FY12 estimates of $5.7 billion in revenues."
For more ratings news on MetroPCS click here and for the rating history of MetroPCS click here.
Shares of MetroPCS closed at $18.15 yesterday.
FBR analyst says, "Looking forward, we anticipate cost of service to grow sequentially during FY11, largely as the result of growth in the subscriber base, coupled with moderate roaming pressure and increased network demand from smartphones, partially offset by the benefits of operating leverage. Furthermore, we anticipate cost of equipment to increase 37% in FY11 (before the impact of increased equipment revenues) as the company continues to experience a mix shift toward smartphones."
"We are raising our FY11 revenue estimate from $4.64 billion to $4.96 billion; however, our FY11 adjusted EBITDA estimate remains effectively unchanged at $1.29 billion. We are also introducing our FY12 estimates of $5.7 billion in revenues."
For more ratings news on MetroPCS click here and for the rating history of MetroPCS click here.
Shares of MetroPCS closed at $18.15 yesterday.
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