UPDATE - Canaccord Genuity Downgraded MetroPCS (PCS) to Hold; Slashing Estimates As Shortfall Preludes Difficulties Ahead
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Price: $49.78 --0%
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Canaccord Genuity downgraded MetroPCS (NYSE: PCS) from Buy to Hold, price target lowered from $16 to $9.
Analyst, Greg Miller, said, "We are downgrading the shares to HOLD following a Q1/12 report that was worse than anyone’s expectations. With the report and associated commentary, we now question if the business model will be capable of competing in a market where data has become more important than text and voice. We find astonishing that Sprint’s management was reportedly ready to sign off on an acquisition of PCS in the past two months alone."
"Slashing estimates; not sure if recovery is possible – With it difficult to compete in an increasingly data-focused world with a network that was built for voice services, we now begin to question long-term viability of the company. Valuation: Difficult to buy at any valuation currently. With so much uncertainty in the model, we find it difficult to buy even at less than 4.5x 2013 estimated EBITDA."
To see more ratings on PCS, Click Here
Analyst, Greg Miller, said, "We are downgrading the shares to HOLD following a Q1/12 report that was worse than anyone’s expectations. With the report and associated commentary, we now question if the business model will be capable of competing in a market where data has become more important than text and voice. We find astonishing that Sprint’s management was reportedly ready to sign off on an acquisition of PCS in the past two months alone."
"Slashing estimates; not sure if recovery is possible – With it difficult to compete in an increasingly data-focused world with a network that was built for voice services, we now begin to question long-term viability of the company. Valuation: Difficult to buy at any valuation currently. With so much uncertainty in the model, we find it difficult to buy even at less than 4.5x 2013 estimated EBITDA."
To see more ratings on PCS, Click Here
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