Market Overview

UPDATE: Guggenheim Cuts Clearwire to Neutral; Sees Most Likely Sprint Offer in $3-3.50 Range

Share:
Related CLWR
Sprint's Clearwire Units Will Retire $175M in Notes
Benzinga's M&A Chatter for Tuesday August 6, 2013
Related S
Argus Wonders How Far SoftBank Will Go To Support Sprint
Baird Remains Cautious On Apple For Q3, Says Q4 Consensus Estimates 'Too High'
Sprint taking on Ericsson employees in partial extension of deal (Seeking Alpha)

Guggenheim downgraded shares of Clearwire (NASDAQ: CLWR) from Buy to Neutral Friday morning.

The firm said Clearwire's closing price on Thursday ($3.16) suggests investors expect Sprint (NYSE: 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.

Latest Ratings for CLWR

DateFirmActionFromTo
Jun 2013Janco PartnersDowngradesBuyMarket Perform
Jun 2013BTIG ResearchDowngradesBuyNeutral
May 2013Raymond JamesUpgradesUnderperformMarket Perform

View More Analyst Ratings for CLWR
View the Latest Analyst Ratings

Posted-In: Downgrades Analyst Ratings

 

Related Articles (CLWR + S)

View Comments and Join the Discussion!