BMO Maintains Market Perform Rating and $4 PT on Sprint Nextel

A report from BMO reiterates its Market Perform rating and $4 price target on Sprint Nextel S. The report states, “We are maintaining our Market Perform rating reflecting our concerns about the shorter term outlook for the company and high execution risk from the accelerated deployment schedule of Network Vision. The availability of the iPhone is a positive long-term development but is expected to add further pressure to near-term margins at a time when Sprint may have to access debt markets over the next 12-24 months”. S closed Friday at $2.41.