BTIG Says Sprint Will Likely Fall Below $7/Share as Offers from Softbank, Dish Disappear - Alphabet (NASDAQ:GOOG)

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BTIG's Walter Piecyk believes Sprint (NYSE: S) shares could move below $7 as the chances for a higher bid from Softbank or Dish (NASDAQ: DISH) begin to evaporate.Piecyk warned the stock could continue lower under $7 if the lofty leverage within the Softbank deal is based on current EBITDA estimates. The analyst hinted at Google (NASDAQ: GOOG) joining the bidding war, saying it's "unclear if and when Google will insert itself into this process but it clearly has material implications for them."Piecyk maintains a Neutral rating on shares of Sprint.

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