Oppenheimer Holdings Reiterates Perform Rating on MetroPCS Communications

In a report published Wednesday, Oppenheimer Holdings reiterated its Perform rating on MetroPCS Communications

. Oppenheimer Holdings noted, “T-Mobile is expected to merge with Metro PCS. Deutsche Telekom's board is scheduled to meet 10/3, and a deal could be announced the same day. The deal appears likely to include a stock swap, among other means of compensation. This merger was inevitable, in our view, but Sprint has been actively courting both T-Mobile and PCS, which makes this merger a bit of a surprise, and is negative for Sprint, in our opinion, which may try to outbid T-Mobile. We have included a T-Mobile model, PCS model, wireless industry model and price box in this report.” MetroPCS Communications closed on Tuesday at $13.57.