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Fly News Breaks for April 13, 2016
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Apr 13, 2016 | 06:57 EDT
Pacific Crest analyst Michael Bowen downgraded Sprint to Underweight saying the company's lack of competitive tools other than price suggests fundamental issues exist. If 50% off isn't working, what will, Bowen asks investors in a research note. He expects Sprint to report Q1 net postpaid additions and churn worse than his previous expectations and calls the stock a "tactical short" into earnings. The company's 2016 guidance "should not be taken at face value and the company has a long turnaround ahead of it," Bowen contends.
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