Citadel Securities maintains an 'Edge Positive' on Sprint (S); RadioShack Comments Point to Lower Subsidy Expense at Sprint in Q2
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Price: $21.82 -5.58%
Rating Summary:
23 Buy, 14 Hold, 0 Sell
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Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Citadel Securities maintains an 'Edge Positive' on Sprint (NYSE: S) price target of $6.50.
Citadel analyst says, "While strong 2Q11 postpaid subscriber gains at AT&T and Verizon may portend disappointing net adds at Sprint, we note that (1) non-phone devices drove much of the strength at AT&T (NYSE: T) and Verizon (NYSE: VZ); and (2) T-Mobile likely continued to be a bigger source of industry gross adds than Sprint. (RadioShack (NYSE: RSH) also commented on T-Mobile weakness during 2Q11.) In any case, we expect margins to be the highlight of Sprint's 2Q report, and believe full-year net adds may yet be positive, especially if Sprint gets the iPhone this fall. Encouragingly, RadioShack indicated that its Sprint activity has rebounded so far in the third quarter. We maintain our Edge Positive rating on Sprint, which reports 2Q11 results this Thursday (7/28) morning."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $5.15 yesterday.
Citadel analyst says, "While strong 2Q11 postpaid subscriber gains at AT&T and Verizon may portend disappointing net adds at Sprint, we note that (1) non-phone devices drove much of the strength at AT&T (NYSE: T) and Verizon (NYSE: VZ); and (2) T-Mobile likely continued to be a bigger source of industry gross adds than Sprint. (RadioShack (NYSE: RSH) also commented on T-Mobile weakness during 2Q11.) In any case, we expect margins to be the highlight of Sprint's 2Q report, and believe full-year net adds may yet be positive, especially if Sprint gets the iPhone this fall. Encouragingly, RadioShack indicated that its Sprint activity has rebounded so far in the third quarter. We maintain our Edge Positive rating on Sprint, which reports 2Q11 results this Thursday (7/28) morning."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $5.15 yesterday.
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