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UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on MetroPCS Communications

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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.

Latest Ratings for PCS

DateFirmActionFromTo
Apr 2013Morgan StanleyReinstatesEqual-weight
Apr 2013Guggenheim SecuritiesUpgradesNeutralBuy
Apr 2013NomuraMaintainsNeutral

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View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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