Citadel Securities Maintains an 'Edge Positive' on Sprint (S); 2Q11 First Look: Competition Pressures Subs, Clearwire Pressures Margins
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Price: $23.11 --0%
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
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Citadel Securities maintains an 'Edge Positive' on Sprint (NYSE: S) price target of $6.50.
Citadel analyst says, "On the positive side, postpaid ARPU gains continued, prepaid net adds remained strong, and wireline results were slightly better than expected. Still 2Q results will likely make investors reconsider Sprint's prospects, especially in the near term. We continue to see longer-term tailwinds: Network Vision should drive margin improvement, networksharing could add significant high-margin revenue, and a proper 4G strategy could help re-establish Sprint's competitiveness. But with that 4G strategy now due to be announced in October, Sprint's stock may be challenged for the next several months."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $5.16 yesterday.
Citadel analyst says, "On the positive side, postpaid ARPU gains continued, prepaid net adds remained strong, and wireline results were slightly better than expected. Still 2Q results will likely make investors reconsider Sprint's prospects, especially in the near term. We continue to see longer-term tailwinds: Network Vision should drive margin improvement, networksharing could add significant high-margin revenue, and a proper 4G strategy could help re-establish Sprint's competitiveness. But with that 4G strategy now due to be announced in October, Sprint's stock may be challenged for the next several months."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $5.16 yesterday.
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