Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of prepaid wireless carrier Leap Wireless
So what: RBC Capital has upped Leap to outperform from sector perform, while also bumping its price target from $9 to $11. RBC analyst Jonathan Atkin cited numerous reasons for the upgrade, including rising average revenue per user due to its Muve music service, as well as seasonal strength and stabilizing competitive pressure.
Now what: Atkin also increased his fourth-quarter customer addition estimates from 700,000 to 764,000 and net adds from 25,000 to 130,000. He notes that Leap offers a better smartphone experience than prepaid competitor MetroPCS
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