J.P. Morgan Expects Sprint To Augment Cell Sites (S)

In a report released this morning, J.P. Morgan said that it expects Sprint (NYSE: S) to start augmenting its cell sites in 2011 and finish in 2013, “and model a tower lease expense increase for Sprint of 6.5% in 2011 and 2.2% in 2012, contributing to tower revenue.”

“Sprint represents 20-25% of leasing revenue to the tower companies and only about 70% of sites are on towers,” J.P. Morgan writes.

Sprint closed Monday at $4.37.