Jefferies Maintains a 'Buy' on Leap Wireless (LEAP); EBITDA Inline, But Net Adds Fall Short
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Price: $10.02 --0%
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Buy' on Leap Wireless (NASDAQ: LEAP), slashes price target from $18 to $12.
Jefferies analyst says, "Net Adds Fall Short. The company reported subscriber losses of 103k including 29k voice additions and 132k broadband losses. This compares to Street estimates of 52k net adds. The weakness in net adds follows weak net adds posted earlier this week by PCS. LEAP ended with 5.75mm subscribers including 5.3mm and 0.5mm voice and broadband subscribers, respectively. The company generated 623k gross adds...We are adjusting our price target and estimates downward driven by the increasing competition in the segment resulting in higher acquisition costs and potentially higher volatility."
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 $10.04 yesterday.
Jefferies analyst says, "Net Adds Fall Short. The company reported subscriber losses of 103k including 29k voice additions and 132k broadband losses. This compares to Street estimates of 52k net adds. The weakness in net adds follows weak net adds posted earlier this week by PCS. LEAP ended with 5.75mm subscribers including 5.3mm and 0.5mm voice and broadband subscribers, respectively. The company generated 623k gross adds...We are adjusting our price target and estimates downward driven by the increasing competition in the segment resulting in higher acquisition costs and potentially higher volatility."
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 $10.04 yesterday.
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