Wells Fargo Lifts Target Range On Sprint By ~40%, Sees 2015 As The 'Key'

Wells Fargo's Jennifer Fritzsche boosted her valuation range on shares of Sprint

by more than 40 percent Thursday afternoon, from $7.75-8.25 to $11-11.75. The analyst maintains an Outperform rating on the stock. Fritzsche cited several factors

2015 will be very important for Sprint according to Fritzsche; she called the year "key." The Wells Fargo analyst sees Sprint margins similar to T-Mobile US

as in the line of sight. Fritzsche believes a Sprint deal with T-Mobile US will be "extremely" beneficial to earnings. With shares of Sprint up 3 percent to $9.96 at last check, the midpoint of the analysts new valuation range implies potential upside of about 14 percent.