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.
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Total wireless service revenue of $19.5 billion, a 3.3 percent increase year over year. Retail postpaid phone net losses of 68,000, and retail postpaid net additions of 253,000. Retail postpaid phone churn of 0.89 percent, and retail postpaid churn of 1.15 percent.
Total wireless service revenue growth of 2.0 percent to 3.5 percent. Adjusted EBITDA growth of 1.0 percent to 3.0 percent. Capital expenditures between $17.0 billion and $17.5 billion. Adjusted effective income tax rate1 in the range of 22.5 percent to 24.0 percent.