Standpoint Research Upgrades Metro PCS From Hold To Buy (PCS)

Standpoint Research has upgraded shares of Metro PCS PCS this morning from Hold to Buy with a 2011-2012 price target of $12-$14. Standpoint analyst Ronnie Moas wrote, "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." Metro PCS reported earnings per share of $0.22 compared to analysts' consensus estimates of $0.13. Year over year revenues were up 17.8%. During today's trading session, the stock has jumped 4.55% to $9.19.