UPDATE: Guggenheim Upgrades Sprint Nextel Corporation to Buy; Strengthening Subscriptions
Guggenheim raises its rating on Sprint Nextel Corporation (NYSE: S) from Neutral to Buy and raises its price target from $3 to $3.50.
Guggenheim notes, "We believe Sprint can meet or beat subscriber expectations for the remainder of this year. In our view, weak subscriber results have been the biggest disappointment for investors in Sprint's recent earnings reports. We believe expectations are now more realistic."
S closed at $2.36 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.