UBS Warburg revised 12-month price target for Sprint PCS to $37 f...
UBS Warburg revised 12-month price target for Sprint PCS to $37 from $41, but kept “strong buy” recommendation on carrier’s stock. Earlier this week, Sprint PCS had disclosed preliminary 4th quarter results, including addition of 1.1 million net subscribers,…
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which was on low-end of analyst consensus estimates. UBS itself had forecast 1.3 million subscriber additions. Most of deviation from projection was due to higher-than-expected cost of each gross subscriber additions, UBS said.