Market Overview

Citi Raises PT on Sprint and T-Mobile

Share:
Related S
Buckingham Research Initiates Sprint With Neutral
Benzinga's Top Initiations
Wall Street Breakfast: Where Do We Go From Here? (Seeking Alpha)
Related
The 10 Worst Companies To Work For
Will The New 'All-in' Plan Give Sprint The Edge It Needs?
Verizon: Quality At Very Attractive Pricing (Seeking Alpha)

Citi analyst Michael Rollins raised the price targets on Sprint (NYSE: S) and T-Mobile U.S. (NYSE: TMUS) to better reflect option value from the possible merger scenario. Sprint's price target was raised from $8.50 to $10.50 and T-Mobile's PT increased from $28.00 to $33.50.

Following media reports on a potential bid, Rollins reported that he sees a 60% probability that Sprint will bid for T-Mobile. His data also shows a 50% probability on the deal gaining regulatory approval.

Citi reiterated a Neutral rating on Sprint and T-Mobile.

Since Thursday, shares of Sprint have been 28% from the Wall Street Journal's report on possible bid on December 13th. Sprint and T-Mobile closed at $10.40 and $33.37, respectively, on Thursday. Shares of Sprint ore currently down 4.12% and T-Mobile is trading down 3.30%.

Latest Ratings for S

DateFirmActionFromTo
Jul 2015Buckingham ResearchInitiates Coverage onNeutral
May 2015Bank of AmericaDowngradesNeutralUnderperform
May 2015RBC CapitalMaintainsSector Perform

View More Analyst Ratings for S
View the Latest Analyst Ratings

Posted-In: Citi Michael RollinsAnalyst Color Price Target Reiteration Analyst Ratings

 

Related Articles (S + TMUS)

Around the Web, We're Loving...

Get Benzinga's Newsletters