Sprint Nextel Rating Reiterated by Zacks (S)
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Sprint Nextel encouraged by reduced first quarter losses, which narrowed year over year and was better than the Zacks Consensus Estimate. Revenues were also higher than the year-ago quarter but narrowly missed our expectation. We believe the efforts to deliver substantial long-term margin improvement by expanding LTE coverage and modernizing network infrastructure along with the deal with SoftBank would result in significant cash flows, translating into improved liquidity. Further, the company’s focus on subscriber and revenue growth in the core Sprint platform through the deployment of its multi-billion dollar restructuring program known as Network Vision is enhancing wireless growth prospects. However, lofty iPhone subsidies, higher spending and competitive threats keep us on the sidelines.”
Sprint Nextel (NYSE: S) traded up 0.28% on Friday, hitting $7.22. Sprint Nextel has a 52-week low of $2.31 and a 52-week high of $7.35. The stock’s 50-day moving average is currently $6.63. The company’s market cap is $21.754 billion.
S has been the subject of a number of other recent research reports. Analysts at Guggenheim downgraded shares of Sprint Nextel from a buy rating to a neutral rating in a research note to investors on Monday, April 29th. They now have a $7.00 price target on the stock, up previously from $6.50. Separately, analysts at Pacific Crest raised their price target on shares of Sprint Nextel from $6.50 to $7.50 in a research note to investors on Friday, April 26th. They now have an outperform rating on the stock. Finally, analysts at S&P Equity Research downgraded shares of Sprint Nextel from a buy rating to a hold rating in a research note to investors on Thursday, April 25th. They now have a $7.50 price target on the stock, down previously from $8.00.
Sixteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $6.83.
Sprint Nextel Corporation (NYSE: S) is a holding company, with its operations primarily conducted by its subsidiaries.
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