BTIG Says Sprint Will Likely Fall Below $7/Share as Offers from Softbank, Dish Disappear

BTIG's Walter Piecyk believes Sprint

shares could move below $7 as the chances for a higher bid from Softbank or Dish

begin to evaporate. Piecyk warned the stock could continue lower under $7 if the lofty leverage within the Softbank deal is based on current EBITDA estimates. The analyst hinted at Google

joining the bidding war, saying it's "unclear if and when Google will insert itself into this process but it clearly has material implications for them." Piecyk maintains a Neutral rating on shares of Sprint.