Sprint (S) PT Raised to $6 at Nomura
Get Alerts S Hot Sheet
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 8
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Nomura Securities analyst Jeffrey Kvaal lifted his price target on Sprint (NYSE: S) to $6.00 (from $4.00) but maintained a Neutral rating following strong results.
Kvaal commented, "Sprint posted a fourth straight quarter of solid subscriber metrics, cost reduction, and a stable to improving balance sheet. Better visibility into 2016 and beyond allows our multiple to expand and target to rise, though ongoing capex concerns restrain our rating to Neutral. Sprint posted 173k net postpaid phone adds, well above recent trend and consensus of 70k. The drivers were postpaid phone churn (1.39% down 10bps YoY) on improving network quality and strong gross adds (net add positive vs. all three rivals). While Sprint remains a price aggressor, ARPU metrics are stabilizing. FY16E EPS from ($0.35) to ($0.30); FY17E EPS from $0.11 to $0.12.
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 $5.90 yesterday.
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