According to Deutsche Bank, MetroPCS PCS 1Q11 results highlight sustained momentum in all key operating trends.
Deutsche Bank said that, “We reiterate BUY on MetroPCS (PCS) and increase our price target to $23 (27% pot'l upside) following strong 1Q11 results that featured beats to all key sub metrics. While the shares have outperformed the S&P 500 by 4x YTD, we maintain PCS as a Top Pick for 4 reasons: (1) continued share gains in the high growth prepaid segment, (2) pot'l upside to ARPU due to strong demand for smartphones, (3) a material ramp in FCF as the carrier scales and completes its 4G overlay and (4) attractive 'growth-at-a-reasonable-price' valuation.”
MetroPCS closed yesterday at $18.00.
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Posted In: Analyst ColorAnalyst RatingsDeutsche BankMetroPCSTelecommunication ServicesWireless Telecommunication Services
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