Credit Suisse Reiterates on Sprint

In a report published Thursday, Credit Suisse analyst Michael Baresich reiterated Underperform and a $5.50 price target on

. According to the report, the reiteration follows a series of channel checks leading analysts to believe S is struggling to gain traction with customers. “Our general impression was that Sprint store traffic was relatively weak during the 4Q13,” the report noted. “Taking this into consideration with T-Mobile's strength, including comments that porting with Sprint was greater than 2 to 1, we also raised our postpaid churn estimate 10 bps to 2.1% compared to 1.99% in 3Q13 and 2.18% in 4Q12.” The report further asserted that based on conversations the analysts have had with the company back in Nov. and at CES, they believe management is looking to move as quickly as it can on its network upgrade. S closed Wednesday at 9.08 with shares trading down at 1 percent.