Nomura Securities Starts Sprint (S) at Neutral

Nomura Securities initiates coverage on Sprint (NYSE: S) with a Neutral rating and a price target of $4.00.

Analyst Jeffrey Kvaal commented, "We initiate coverage of Sprint Corporation (S) with a Neutral rating and a $4 target price. Rising network quality and novel pricing have transformed a theoretical upturn into an actual revival, which we consider sustainable for now. Yet the resulting balance sheet strain, chiefly from capex, is proving severe. We believe that financial uncertainty merits a multiple discount to peers. Our $4 target price is 5.5x our 2016 EBITDA estimate."

For an analyst ratings summary and ratings history on Sprint click here. For more ratings news on Sprint click here.

Shares of Sprint closed at $4.27 yesterday.

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