Nomura Securities Raising Numbers on Sprint (S); Give 'Um A Chance
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Price: $23.11 -3.06%
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Sprint (NYSE: S) price target of $2.50.
Analyst, Mike McCormack, said, "Sprint shares were up after the company raised 2012 Adjusted EBITDA guidance from $3.7bn -$3.9bn to $4.5bn-$4.6bn. We had already raised our estimate to $4.1bn on the expectation for lower Network Vision expenses, but were encouraged by the operational improvements in both wireless and wireline. Notable was the 60% recapture rate for Nextel subscribers and the lower cost of subscriber care that drove the wireless operations. Sprint’s CDMA business, as well as the rest of the industry, has benefited from a competitive lull ahead of the iPhone launch. We are raising our 2012 wireless revenue estimates to $32.1bn from $31.8bn, while consolidated rises to $35.0bn from $34.6bn. Our 2012 Wireless OIBDA estimate rises to $4.0bn from $3.5bn and our consolidated OIBDA estimates rise to $4.6bn from $4.1bn. Our wireless subscriber metrics are largely unchanged."
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 $4.05 yesterday.
Analyst, Mike McCormack, said, "Sprint shares were up after the company raised 2012 Adjusted EBITDA guidance from $3.7bn -$3.9bn to $4.5bn-$4.6bn. We had already raised our estimate to $4.1bn on the expectation for lower Network Vision expenses, but were encouraged by the operational improvements in both wireless and wireline. Notable was the 60% recapture rate for Nextel subscribers and the lower cost of subscriber care that drove the wireless operations. Sprint’s CDMA business, as well as the rest of the industry, has benefited from a competitive lull ahead of the iPhone launch. We are raising our 2012 wireless revenue estimates to $32.1bn from $31.8bn, while consolidated rises to $35.0bn from $34.6bn. Our 2012 Wireless OIBDA estimate rises to $4.0bn from $3.5bn and our consolidated OIBDA estimates rise to $4.6bn from $4.1bn. Our wireless subscriber metrics are largely unchanged."
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 $4.05 yesterday.
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