Macquarie Equities Research analyst Kevin Smithen downgraded Sprint Corporation S from Outperform to Neutral.
Smithen commented, "We are downgrading shares of Sprint to Neutral as the stock has climbed over 8% above our $7.75 TP. Given the limited float and high short interest, we would caution against shorting the shares, but believe long-term holders should take some money off the table at current levels" The analyst noted that investors could expect a 20% pullback in Sprint shares in upcoming months if the 2.5GHz deployment is delayed or high churn persists.
Sprint closed at $8.39 on Friday.
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