Jefferies Starts Sprint (S) at Underperform
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Price: $22.57 +3.44%
Rating Summary:
23 Buy, 14 Hold, 0 Sell
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Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Jefferies initiates coverage on Sprint (NYSE: S) with a Underperform. PT $2.50.
The firm said, "In our view, too much has to go right."
Jefferies said management estimates that the 4G LTE project will turn EBITDA positive by 2014 assumes "flawless execution", however, the company "has a checkered history in managing network transition."
In addition, while the company expects the iPhone program to be profitable by 2015, "four years is an eternity in the wireless business, in our view."
With Sprint being the only wireless provider currently offering unlimited data plans on smartphones "term subscriber growth could be impacted if Sprint's network is perceived by consumers as incapable of handling the load."
For an analyst ratings summary and ratings history on Sprint click here. For more ratings news on Sprint click here.
Shares of Sprint closed at $2.85 yesterday.
The firm said, "In our view, too much has to go right."
Jefferies said management estimates that the 4G LTE project will turn EBITDA positive by 2014 assumes "flawless execution", however, the company "has a checkered history in managing network transition."
In addition, while the company expects the iPhone program to be profitable by 2015, "four years is an eternity in the wireless business, in our view."
With Sprint being the only wireless provider currently offering unlimited data plans on smartphones "term subscriber growth could be impacted if Sprint's network is perceived by consumers as incapable of handling the load."
For an analyst ratings summary and ratings history on Sprint click here. For more ratings news on Sprint click here.
Shares of Sprint closed at $2.85 yesterday.
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