BTIG Downgrades MetroPCS (PCS) to 'Neutral' on Mounting Concerns; Considering LEAP as Possible Short
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Price: $11.84 --0%
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 23 | New: 10
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 23 | New: 10
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BTIG downgraded MetroPCS (NYSE: PCS) from Buy to Neutral.
Analyst, Walter Piecyk, said, "We downgraded MetroPCS to Neutral based on our concerns of increased competition in the pre-paid smartphone space in 2012 and the company’s inability to source additional spectrum. In addition, the recent rally in the stock has reduced the upside potential in our $12 price target to less than 25% while we believe risk has increased. We are removing our target with the downgrade."
"We believe investors should consider selling short Leap Wireless (Nasdaq: LEAP) based on an expectation of increased competition and compressed margins. The company is highly levered and is burning cash.
For an analyst ratings summary and ratings history on MetroPCS click here. For more ratings news on MetroPCS click here.
Shares of MetroPCS closed at $9.22 yesterday.
Analyst, Walter Piecyk, said, "We downgraded MetroPCS to Neutral based on our concerns of increased competition in the pre-paid smartphone space in 2012 and the company’s inability to source additional spectrum. In addition, the recent rally in the stock has reduced the upside potential in our $12 price target to less than 25% while we believe risk has increased. We are removing our target with the downgrade."
"We believe investors should consider selling short Leap Wireless (Nasdaq: LEAP) based on an expectation of increased competition and compressed margins. The company is highly levered and is burning cash.
For an analyst ratings summary and ratings history on MetroPCS click here. For more ratings news on MetroPCS click here.
Shares of MetroPCS closed at $9.22 yesterday.
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