Morgan Stanley Reiterates Underweight on Sprint Nextel

Morgan Stanley is out with its report today on Sprint Nextel S, reiterating Underweight. In a note to clients, Morgan Stanley writes, "Weak postpaid adds and disappointing margins overshadowed solid churn and ARPU performance. The LightSquared partnership deal remains fluid due to GPS interference issues, while a detailed 4G/Network Vision update will have to wait until October. We reiterate our Underweight view." Morgan Stanley maintains a $3 PT on S. At the time of posting, shares of S were trading pre-market at $4.35, up 0.23% from Thursday's close.
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Posted In: Analyst ColorAnalyst RatingsMorgan StanleyTelecommunication ServicesWireless Telecommunication Services
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