Standpoint Research Downgrades MetroPCS Communications (PCS)

Standpoint Research has downgraded shares of MetroPCS Communications PCS from Buy to Hold. Since the firm upgraded the stock to Buy on November 23, 2009 the shares have outperformed the S&P by 4,000 basis points. According to Standpoint analyst Ronnie Moas, the stock is now fairly valued at 22x trailing twelve months earnings and 19x next year's estimates. Moas said that he would consider reinstating the name on a pull-back below $8, but currently the risk/reward is no longer attractive, in his opinion. Currently, PCS shares have lost 0.11% to $9.07 as the stock pulled back on news of the downgrade. MetroPCS Communications, Inc. (PCS) is a wireless telecommunications provider.