Nomura Securities Maintains a 'Neutral' on Sprint (S) After Meeting W/ Management

Nomura Securities maintains a 'Neutral' on Sprint (NYSE: S).

Nomura analyst, Mike McCormack, said, "After meeting with Sprint’s senior mgmt yesterday, we have a generally more positive view of the near term glide path for Sprint's operations. Our impressions from the meeting are that the underlying margin improvement, churn reduction and ARPU improvement themes from 1Q should persist into 2Q. Additionally, we noted a more constructive view towards the relationship with Clearwire (Nasdaq: CLWR). However, with shares trading at 5.9x our 2012 EBITDA est (6.4x inc. proportionate CLWR), we are not inclined to change our implicitly cautious stance."

For more ratings news on Sprint click here and for the rating history of Sprint click here.

Shares of Sprint closed at $5.18 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald