Bank of America Merrill Lynch commented on Sprint Nextel S in a report released today. In the report, Bank of America Merrill Lynch was mixed in its assessment of the company.
Bank of America Merrill Lynch writes, "We reiterate Neutral with a Px Tgt of $5.50. We are revising 11/12/13E EPS from
($0.46)/($0.33)/($0.10) to ($0.42)/($0.26)/($0.11). Reports that LightSquared's
founder has effectively announced network sharing is a done deal are the latest
distraction for Sprint. With respect to business fundamentals, we believe Sprint's
gross add share for post-paid subscribers will show continuing slippage in 2Q not
only because of a full quarter of Verizon's iPhone, but because of targeted and
aggressive promotional activity at T-Mobile."
Bank of America Merrill Lynch currently has Neutral rating on Sprint Nextel and a price objective of $5.50. Shares of Sprint Nextel closed at $5.19 on Friday.
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Posted In: Analyst ColorAnalyst RatingsBank of America Merrill LynchTelecommunication ServicesWireless Telecommunication Services
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