UPDATE: Guggenheim Raises Sprint Nextel's PT

According to a research report published earlier today, Guggenheim has increased Sprint Nextel Corporation's S PT from $2.50 to $3. In the report, Guggenheim commented, “We believe recent events have removed several significant near-term overhangs on the stock. Events include a $2B debt issue (closed 3/1), the lack of a Sprint iPad, and Sprint's expected termination of its LightSquared agreement. The board's rejection of MetroPCS also helped sentiment, in our view.” Guggenheim maintains its Neutral rating on Sprint Nextel, which closed yesterday at $2.79.