BTIG Upgrades Sprint (S) to Neutral; Valuation Call
Tweet
Share
E-mail
Get Alerts S Hot Sheet
Price: $19.57 --0%
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 42
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 42
Join SI Premium – FREE
BTIG upgraded Sprint (NYSE: S) from Sell to Neutral.
BTIG analyst says, "We upgraded Sprint based on valuation as the stock now trades under 5.0x our 2012 EBITDA estimate, which is below consensus...We are not moving to a Buy because we believe that Sprint’s stock can fall further given its uncertain EBITDA, high debt leverage and lack of free cash flow. We also believe it needs to develop a clear 4G strategy including financing or taking control of Clearwire (Nasdaq: CLWR). At $2.00, Sprint would be trading at 4.0x our 2012 EBITDA estimate, excluding any investments it would need to make in Clearwire, spectrum or an acceleration of its network modernization program."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $3.72 yesterday.
BTIG analyst says, "We upgraded Sprint based on valuation as the stock now trades under 5.0x our 2012 EBITDA estimate, which is below consensus...We are not moving to a Buy because we believe that Sprint’s stock can fall further given its uncertain EBITDA, high debt leverage and lack of free cash flow. We also believe it needs to develop a clear 4G strategy including financing or taking control of Clearwire (Nasdaq: CLWR). At $2.00, Sprint would be trading at 4.0x our 2012 EBITDA estimate, excluding any investments it would need to make in Clearwire, spectrum or an acceleration of its network modernization program."
For more ratings news on Sprint click here and for the rating history of Sprint click here.
Shares of Sprint closed at $3.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Evercore ISI upgrades U.S. Bancorp to Outperform with $72 target, 'Party like it's 1999'
- Goldman Sachs Upgrades Urban Outfitters, Inc. (URBN) to Buy
- JPMorgan Upgrades U.S. Bancorp (USB) to Neutral
Create E-mail Alert Related Categories
UpgradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
