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UPDATE: Jefferies & Company Upgrades Sprint Nextel to Hold, Raises PT

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In a report published Monday, Jefferies & Company upgraded its rating on Sprint Nextel Corporation (NYSE: S) from Underperform to Hold, and raised its price target from $3.00 to $7.00.

Jefferies noted, “It is playoff season in baseball, and in a move best described as from out of left field, Sprint confirmed on Thursday that it was in discussions with Japan-based Softbank. With consolidation fever in the air, we take our rating on Sprint to Hold from Underperform, our PT goes to $7 from $3.”

Sprint Nextel Corporation closed on Friday at $5.73.

Posted-In: Jefferies & CompanyAnalyst Color Upgrades Analyst Ratings

 

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