Goldman Sachs Lowers Target on Sprint (S) Despite iPhone Addition
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Price: $23.11 -3.06%
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Earlier, Goldman Sachs lowered estimates and their price target on Sprint (NYSE: S) from $5.00 to $4.50, even after incorporating 4Q iPhone launch into their Sprint estimates. The firm maintained their Neutral rating.
The firm said while the iPhone will positively impact net adds, it will significantly pressure Q4 EBITDA. This imapct will also flow though to 2012 EBITDA.
The firm cut FY11 EPS from ($0.76) to ($0.83) and FY12 from ($0.22) to ($0.31).
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $3.57 yesterday.
The firm said while the iPhone will positively impact net adds, it will significantly pressure Q4 EBITDA. This imapct will also flow though to 2012 EBITDA.
The firm cut FY11 EPS from ($0.76) to ($0.83) and FY12 from ($0.22) to ($0.31).
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $3.57 yesterday.
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