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As analysts lose faith in Sprint Nextel
Call it a leap of faith. Shares of Sprint fell 17% after the carrier reported a $0.28-per-share loss, well below the $0.12 consensus that analysts had been calling for, Barron's reports. Revenue rose 4%, but Sprint's subscriber count dropped again -- this time by 101,000.
Could it be Apple's
Wall Street doesn't hold out as much hope for Sprint -- over the short term, anyway. A survey of analyst ratings by Barron's writer Tiernan Ray found that analysts at Wells Fargo, Citigroup, and RW Baird & Co. revised their subscriber targets downward. All three had expected net gains for the year. They now expect net losses, presumably at the hands of iPhone-wielding peers.
Do you agree with the analysts, or are you a buyer at these levels? Please vote in the poll below, and then leave a comment to tell us your thoughts about Sprint's business. You can also add Sprint Nextel to your watchlist for up-to-date analysis on the stock as soon as it's published.