Deutsche Bank Has Buy On Sprint

Deutsche Bank has a Buy rating and a $7 price target on shares of Sprint S. In a note to clients, Deutsche Bank writes, "The 3 key takeaways from our 120+ prepaid store checks in 2Q11 are: (1) strong demand at PCS and LEAP for smartphones, which require higher rate plans, is not slowing due to seasonal softness in gross adds or macro factors such as higher gas prices; (2) VZ's new $50/month 'Unleashed' prepaid product is having minimal traction due to its higher price point and weak handset line-up; and (3) the major prepaid providers (TracFone, Sprint, PCS and LEAP) continue to dominate the market. Based on these checks, S and PCS remain Top Picks (both rated BUY)." Shares of S lost 6 cents on Friday to close at $5.85, a loss of 1.06%.