Canaccord Genuity Starts Sprint (S) at Hold; Several Factors to Weigh
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Price: $22.09 -4.41%
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Canaccord Genuity initiates coverage on Sprint (NYSE: S) with a Hold. PT $3.00.
Analyst, Greg Miller, said, "We continue to believe that Sprint is a structurally impaired company attempting to spend its way out of its problems. Recent historic cap-ex has been less than 1/5th other carriers and they are now trying to catch up. Network Vision is the integration of Sprint with Nextel that merged in 2005. If successful the project could materially alter the rapidly declining trajectory of the company's margin profile. However, we believe an increasingly competitive environment at full penetration makes turn-around far more difficult. We believe the stock could re-test its lows with any news of disruption."
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 $2.86 yesterday.
Analyst, Greg Miller, said, "We continue to believe that Sprint is a structurally impaired company attempting to spend its way out of its problems. Recent historic cap-ex has been less than 1/5th other carriers and they are now trying to catch up. Network Vision is the integration of Sprint with Nextel that merged in 2005. If successful the project could materially alter the rapidly declining trajectory of the company's margin profile. However, we believe an increasingly competitive environment at full penetration makes turn-around far more difficult. We believe the stock could re-test its lows with any news of disruption."
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 $2.86 yesterday.
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