UPDATE: Collins Stewart Upgrades Sprint Nextel to Buy

Collins Stewart is out with its report today on Sprint Nextel S, upgrading S to Buy. In its report, Collins Stewart writes, "We are upgrading Sprint to Buy from a long standing Neutral during this time of extreme volatility that have caused Sprint shares to under perform the S&P 500 index after outperforming the index for the first half of the year. With fairly low expectations for 2H11 and 2012, with a stock now trading at 4.6x estimated 2012 EBITDA and with the possibility of change in margin trajectory late 2012 and significant improvement in 2013, we find the stock attractive for investors with a longer-term investment horizon." Collins Stewart has a $5 PT on S. At the time of posting, shares of S were trading pre-market at $3.41, down 2.01% from Monday's close.
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Posted In: Analyst ColorUpgradesAnalyst RatingsCollins StewartTelecommunication ServicesWireless Telecommunication Services
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