Piper Jaffrays Believes Sprint Nextel's 4G Upgrade Complicated Yet Manageable

According to a recent report, Piper Jaffray believes Sprint Nextel's S conversion to 4G is complicated yet manageable, despite the recent cases centering around the complexity of the upgrade. Piper Jaffray reiterates an overweight rating and price target of $6.50. In the report, Piper Jaffray said, "We believe investors understand the complexities, and currently don't value Sprint based on the savings that will accrue to it in 2013 and beyond." Sprint Nextel closed yesterday at $5.49.