UBS has just recommended Sprint stock ahead of its Q3 earnings but kept a price target of $4.5 on the stock. Allan Edwards the CEO of The Markets Are Open commented that this is the usual game of analysts to a put a price target on a stock that is very near the current price. Allan Edwards said "it makes no sense for UBS to say to be a short term buyer but to keep its long term price target flat, they are just protecting themselves."
Sprint shares are down 8% since July 28 when it was reported that growth was not as quick as expected. The stock is not exactly cheap from a valuation stand point, but shareholders can see that Sprint has a lot of room for improvement going forward and investors typically like stocks which trade at just over 1/3 of yearly revenue.
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