UPDATE: Morgan Stanley Reiterates On Sprint Corporation Following Sell-Side Briefing

In a report published Friday, Morgan Stanley analyst Simon Flannery reiterated an Underweight rating on

, but removed the $5.00 price target. In the report, Morgan Stanley noted, “Sprint's new CEO Marcelo Claure hosted a sell-side briefing Thursday demonstrating a refreshing decisiveness and clarity of vision. Sprint appears to be already seeing early signs of success, but it will take time to address some challenges facing the company. The impact Claure has had in three weeks have been impressive, which suggests life will be getting harder for Sprint's competitors who have taken significant share at Sprint's expense in recent years.” Sprint Corporation closed on Thursday at $6.57.