Piper Jaffray Remains Neutral On Sprint Nextel, $4 PT (S)

Piper Jaffray left its Sprint Nextel S Neutral rating and $4 price target unchanged in a research report published today.

In the report, Piper Jaffray states, "We recently concluded our quarterly wireless retail surveys. Based on these checks, we believe the positive subscriber trends Sprint has seen the last couple of quarters reversed in 1Q11."

Shares of Sprint Nextel were at $5.10 in pre-market trading at the time of posting, up 0.79% from Thursday's market close.