Guggenheim downgraded shares of Clearwire CLWR from Buy to Neutral Friday morning.
The firm said Clearwire's closing price on Thursday ($3.16) suggests investors expect Sprint S to raise the buyout offer from the proposed $2.90 per share to an “uncertain” but materially higher price.
Guggenheim feels the most likely outcome is Sprint will increase the offer to perhaps $3.00 to $3.50.
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