Nomura Securities Maintains a 'Neutral' on Sprint (S); Analyst Day Handbook

Nomura Securities maintains a 'Neutral' on Sprint (NYSE: S) price target of $4.00.

Nomura analyst, Mike McCormack, said, "Sprint will be hosting its strategy update this Friday, October 7 at 9:30am. We view the Strategy Update as a key opportunity for Sprint to provide clarity on what we believe are pivotal issues for investors. We believe investors should evaluate the proposed strategy through the lens of funding, and then appropriately evaluate risk. By our analysis, Sprint’s cash flow profile has changed considerably since the debates on future investments were introduced, with the wireless business now a net drag on 2Q11 consolidated cash flow, in our view."

For more ratings news on Sprint click here and for the rating history of Sprint click here.

Shares of Sprint closed at $2.73 yesterday.

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