Nomura Securities Maintains a 'Neutral' on Sprint (S); Cuts FY12 Estimates

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

Analyst, Mike McCormack, said, "Sprint posted better-than-expected results in 1Q, which we believe benefited from the timing of Network Vision spending and strong ARPU performance. We believe the organic business trends continue to worsen with meaningful y/y degradation in margin performance, even with the benefit of outsized ARPU gains. We assign a very high risk to Sprint’s ability to navigate expected margin improvement and do not favor the risk-reward opportunity. Our 2012E EPS goes from ($1.21) to ($1.58)."

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 $2.43 yesterday.

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