UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on MetroPCS Communications
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on MetroPCS Communications (NYSE: PCS), and raised its price target from $10.00 to $15.00.
Jefferies noted, “Yesterday, both PCS (Buy Rated) and DT confirmed that they were in talks regarding a potential combination of DT's T-Mobile USA and PCS. While the synergies of the combined entities would take time to capture given that the companies run on different network technologies today, they are significant. If we assume an even split to the synergies that adds roughly $5 in equity value to our previous PCS target price of $10.”
MetroPCS Communications closed on Tuesday at $13.57.
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