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Finally, someone on Wall Street gets bullish on Sprint Nextel

Entry posted by S4GRU December 21, 2011

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by Robert Herron
Sprint 4G Rollout Updates
Wednesday, December 21, 2011 - 4:19 PM MST

According to an article on Barron’s website today, Jennifer Fritzsche of Wells Fargo is becoming bullish on Sprint Nextel. Her upbeat attitude on the third largest wireless company in America came after a meeting with Sprint CEO Dan Hesse yesterday. “We walked away from the meeting feeling continued confidence in the company’s turnaround strategy,” wrote Fritzsche.

“While this story admittedly may take a few quarters to show tangible results that the ship is indeed turning, we believe S is laying the foundation to improve the model’s longer term margin profile.”

Based on her positive take on Sprint’s future from this meeting, Fritzsche targeted a “valuation range” of $3.50 to $3.75. Given that Sprint’s stock traded around $2.30 today, this would indicate a belief in ‘up, up and up’ for Sprint stock.

This is undoubtedly welcome news by Sprint executive management. Sprint is in the process of deploying it’s Network Vision infrastructure and LTE upgrades. And is borrowing billions of dollars to do it. Any cooperation and good news from Wall Street will help in the borrowing effort. One analyst down, 3,417 more to go, Dan.

Now if we could just get some juicy Network Vision details!

Source: http://blogs.barrons.com/techtraderdaily/2011/12/21/sprint-ceo-meeting-lends-conviction-to-turnaround-says-wells/?mod=google_news_blog

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