Science & Technology 
Science and Technology
Science and Technology 
Thu, February 19, 2009
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Schaeffer's Street Stories: Sprint Nextel Skips Higher on Positive Broker Comments
CINCINNATI--([ BUSINESS WIRE ])--The shares of Sprint Nextel (NYSE: S) have enjoyed a nice boost this morning following an upgrade from Friedman, Billings, Ramsey & Co. The brokerage firm boosted the telecommunications company from "market perform" to "outperform," and said it expects the company's shares may be helped by "early evidence of an organic turnaround at the company." The brokerage firm added, "Management initiatives are making headway and Sprint is positioned to continue its financial and operational improvement in 2009."
Furthermore, Friedman, Billings, Ramsey & Co. added that the mobile services provider had the ability to regain a substantial portion of lost momentum. The brokerage, which had forecast flat sequential gross additions in the fourth quarter at Sprint, maintained its price target on the company's stock at $4.00.
To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/sprint+nextel+skips+higher+on+positive+broker+comments/observations.aspx?click=home&ID=91234&source=businesswire ]
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