Sprint (S) shares are trading higher after RBC Capital analyst Jonathan Atkin upped his rating on the telco’s stock to Outperform from Sector Perform, with a new target price of $6, up from $4.
The move comes one day after the company reported Q1 results.
Atkin says he anticipates “mostly favorable near/medium-term developments,” including:
- Improving metrics in Q2.
- Launch of HTC Evo Wimax phone.
- Major market launches of WiMax service in the second half.
S is up 16 cents, or 3.9%, to $4.43.
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