Deutsche Bank Reports On LEAP Net Adds

Deutsche Bank has published a report on the pre-announced net adds of Leap Wireless LEAP. In the report Deutsche Bank writes, "On Monday after the close, Leap Wireless (LEAP) pre-announced 1Q11 consolidated net adds of approximately 300k, well above our estimate of 170k (+200k voice and -30k broadband). The 1Q11 net adds are an increase from 107k in 4Q10 and a decline from 446k in 1Q10." LEAP has a Hold Rating and a $14.00 PT. LEAP closed at 414.05 yesterday.