MetroPCS (NYSE: PCS) received a number of price target changes and ratings updates during the last week:

  • MetroPCS had its price target raised by analysts at TD Securities from $60.00 to $61.00. They now have a “hold” rating on the stock.
  • MetroPCS was downgraded by analysts at Deutsche Bank from a “buy” rating to a “hold” rating. They now have a $11.00 price target on the stock, down previously from $15.00. They wrote, “Our more cautious view is based on a belief that PCS is unlikely to accept a competitive bid from another national wireless carrier at a price superior to current trading levels. We are therefore valuing the company with a base case that it completes its planned merger with T-Mobile (TMUS). While we believe that the combined NewCo can achieve its synergy objectives, we nonetheless see minimal, if any, EBITDA growth during the next 3-5 years (below guidance) due to ongoing struggles at TMUS. We therefore expect valuation to remain compressed and move to the sidelines until visibility improves.”
  • MetroPCS had its price target lowered by analysts at Citigroup to $12.00. They wrote, “We remain Neutral on PCS shares following Deutsche Telekom’s announced plans to merge T-Mobile USA into Metro PCS in an all-stock transaction, and we are lowering our target price to $12 per share using a 5x multiple on 2013 PF OIBDA, anticipated dividends of ~$4/share for PCS, & some synergy realization. While our preview focuses on results specifically for Metro, DT’s results for T-Mobile USA are likely to have a greater influence on the share price.”
  • MetroPCS had its “neutral” rating reaffirmed by analysts at Piper Jaffray. They now have a $8.00 price target on the stock.
  • MetroPCS had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $13.00 price target on the stock.

MetroPCS traded up 1.96% on Thursday, hitting $10.41. MetroPCS has a 52-week low of $5.53 and a 52-week high of $14.51. The company has a market cap of $3.783 billion and a price-to-earnings ratio of 11.34.

MetroPCS Communications, Inc. (MetroPCS Communications) is a facilities-based wireless broadband mobile communications provider in the United States, including the Atlanta, Boston, Dallas/Fort Worth, Detroit, Las Vegas, Los Angeles, Miami, New York, Orlando/Jacksonville, Philadelphia, Sacramento, San Francisco, and Tampa/Sarasota metropolitan areas.