FBR Capital Maintains Bullish Stance On Sprint (S) Following Management Conference Call

May 25, 2010 10:32 AM EDT
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Price: $8.62 --0%

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    6 Buy, 29 Hold, 3 Sell

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FBR Capital Markets reiterates an 'Outperform' rating and $6.00 price target on Sprint Nextel (NYSE: S) after a conference call with the president Matt Carter.

According to the frm, "We came away from the call encouraged by on multiple fronts including the company's 4G network strategy and potential to lower its cost structure and churn-a major investor focus... With respect to cost structure, we see opportunity to cut a major portion of $3B in roaming and network expenses... As a result of the recent run in Sprint shares, new investors should choose to be selective with their entry point; however, we continue to believe in the long-term turnaround story."

To see all the upgrades/downgrades on shares of S, visit our Analyst Ratings page.

Sprint Nextel Corporation offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S.

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