Deutsche Bank Downgrades Sprint (S) to Hold

Deutsche Bank downgraded Sprint (NYSE: S) from Buy to Hold with a price target of $3 following Friday's analyst meeting which left too many unanswered question.

Those included: (1) the company's 4G spectrum strategy and the fate of its relationship with Clearwire, (2) its funding plans for Network Vision and (3) the expected financial impact of the iPhone. While we see a few pot'l positive near-term catalysts - and con't to expect material long-term margin expansion from Network Vision - we believe the shares will remain range-bound until visibility improves.

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

Shares of Sprint closed at $2.41 yesterday.

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