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Fly News Breaks for February 12, 2016
TMUS, VZ, T, S
Feb 12, 2016 | 08:44 EDT
As previously reported, HSBC analyst Sunil Rajgopal downgraded Sprint (S) to Reduce, the firm's equivalent of a sell rating, from Hold, saying he has turned more cautious regarding its turnaround efforts in light of moves by AT&T (T), Verizon (VZ) and T-Mobile (TMUS). The analyst, who said Sprint's high-leverage is a key concern in addition to its operational challenges, lowered his long-term revenue and EBITDA estimates and cut his price target for the stock to $1.60 from $5.