Standpoint Research Raising MetroPCS PCS To Buy (PCS)

Standpoint Research is raising shares of MetroPcs PCS to Buy and has a $12-14 price target on shares. In the report Standpoint Research writes, "We dropped MetroPCS PCS on June 17, 2010 @ $9.24 with a 39.80% gain that beat our benchmark S&P-500 by 3890 bps in a market that was flat (+0.9%) during the time we were in the name. PCS reported an excellent Q2 this morning and we would reinstate the position here. These results could trigger a short squeeze, as there are more than 30,000,000 shares short with average daily volume < 10,000,000 shares." Shares of MetroPCS are up 42 cents to $9.21 in early Thursday trade.