Canaccord Genuity Reiterates Hold Rating, $12 PT on MetroPCS Communications
In a report published Friday, Canaccord Genuity reiterated its Hold rating and $12.00 price target on MetroPCS Communications (NYSE: PCS).
Canaccord Genuity noted, “Although the merger between T-Mobile USA and MetroPCS would create a larger size entity, we believe the consolidation would not dramatically change the competitive landscape of the US wireless market. Given the deal structure, significant debt load and uncertainty associated with the network conversion, we believe the additional upside to existing MetroPCS shareholders would likely be limited at this point.”
MetroPCS Communications closed on Thursday at $12.78.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.