Collins Stewart Reiterates a 'Buy' on Leap Wireless (LEAP); Momentum Likely To Continue; Valuation is Attractive

Collins Stewart reiterates a 'Buy' on Leap Wireless (NASDAQ: LEAP), PT $22.

Collins analyst says, "We reiterate our rating on the shares of both LEAP and MetroPCS (NYSE: PCS) as we believe the recent pull back in the shares has created buying opportunity in the shares. We do not believe that the traditional seasonality in second quarter net additions, or the threat of AT&T (NYSE: T) becoming more competitive in the value segment following the close of the T-Mobile merger should pressure valuations."

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

Shares of Leap Wireless closed at $15.47 yesterday.

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