BTIG Sees Sprint Shares Declining to Around $6.75 If Softbank Deal Wins Approval

With shares of Sprint

holding over the $7 level since mid April, a parade of sell-side analysts have recently come out with commentary on the Sprint

deal with Softbank. BTIG's Walter Piecyk is the latest analyst to comment... He warned Sprint shares could push below $6.75 if the deal with Softbank is approved. SoftBank's bid leaves DISH just enough room to possibly make a counteroffer, according to Piecyk, potentially a reason shares of Sprint have been hanging around $7.20 for some time. Piecyk assured Sprint holders he sees the stock remaining above the $7.00 mark over the near term as the market is likely pricing in some kind of response from Softbank or even an increased bid from DISH. BTIG maintains a Neutral rating on shares of Sprint. Shares of Sprint are pushing higher Tuesday afternoon following a 0.8 percent decline on Monday despite news Softbank boosted its bid for Sprint. The stock last traded at $7.35, up more than 2 percent from Monday's close.