Raymond James analyst Ric Prentiss downgraded T-Mobile (TMUS) to Outperform from Strong Buy with a price target of $107, up from $99. The analyst updated his mode; to reflect the new business combination agreement with Sprint (S), which he notes change the exchange ratio for SoftBank and adds $4 per share of incremental value to his target price. The analyst still believes the merger will give T-Mobile increased scale to push margins and cash flows higher. However, the combination still faces a "major, multiyear integration effort," Prentiss tells investors in a research note.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here