Nomura Securities Maintains a 'Neutral' on Sprint (S); Meetings with CFO at CES

Nomura Securities maintains a 'Neutral' on Sprint (NYSE: S) price target of $2.50.

Nomura analyst, Mike McCormack, said, "Yesterday, we had the opportunity to meet with Joe Euteneuer, Sprint's CFO. Overall, the meeting supported our cautious stance on the stock as execution remains critical to the success of Network Vision, and the ultimate impact of the iPhone will be an unknown for the foreseeable future. We expect the 2012 focus will be on margins as opposed to subscriber share gains, with hopes for upgrade and pricing rationality from the overall industry. We continue to be wary of the significant execution risk and recommend investors take a ‘wait and see’ approach when evaluating investment in Sprint shares."

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 $2.30 yesterday.

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