UPDATE: Credit Suisse Initiates Coverage on Sprint on Full Valuation, Downside Risk
In a report published Wednesday, Credit Suisse analyst Joseph Mastrogiovanni initiated coverage on Sprint Corporation (NYSE: S) with an Underperform rating and $5.50 price target.
In the report, Credit Suisse noted, “While Sprint should achieve significant EBITDA growth over the next two years, we believe this is already reflected in valuation. Initiatives in 2014 to improve subscriber trends could put pressure on margins, resulting in multiple contraction.”
Sprint Corporation closed on Tuesday at $6.39.
Latest Ratings for S
|Nov 2014||Bank of America||Maintains||Underperform|
|Nov 2014||Canaccord Genuity||Maintains||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.