Bank of America Provides Color on MetroPCS Communications

Bank of America provided color on MetroPCS Communications PCS. In a research report published today, the rating agency commented on the company's Q2 results, which are due to be published on Tuesday, August 2. In the report, Bank of America states, “The company continues to believe that its target demographic has been disproportionately impacted by a slower economic growth environment. We will look for any insights from MetroPCS on how the economy is specifically impacting its customer base including rate plan take rates, churn, and other specific buying behavior.” At the moment, the rating agency has a Buy rating and a price target of $20 placed on the company's stock. On Friday, PCS lost 0.06% of its value to finish the day at $16.28. Its shares rebounded in today's pre-market trading, rising 2.27% to stand around $16.65.