Canaccord Genuity Maintains a 'Hold' on Sprint (S); Not Calling It A Victory Just Yet

Canaccord Genuity maintains a 'Hold' on Sprint (NYSE: S) price target raised to $3.80.

Analyst, Greg Miller, said, "Despite significant progress in its long overdue network reconstruction progress and a significant turn-around in its communications with the Street, we continue to rate Sprint with a HOLD while we await further progress on its network reconstruction initiative. Over the past seven years, all too often have investors thought we had reached an inflection point on earnings only to be disappointed in the subsequent quarter. Given that the easiest part of the vision process is decommissioning underutilized iDEN sites (20mm user network with 4.4mm on it), we cannot yet call victory on the network reconstruction process."

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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