Morgan Stanley Expects 2015 Guidance Update For Sprint

In a report published Tuesday, Morgan Stanley analyst Simon Flannery reiterated an Underweight rating and $5.00 price target on

. In the report, Morgan Stanley noted, “We expect Adj. EBITDA margin headwinds in FY3Q14, and a material turnaround in 2015 could be challenging. Revenue declines, postpaid phone losses, and capex needs could drive FCF burn and keep the balance sheet pressured. We remain UW.” Sprint closed on Monday at $4.27.