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Friday, Jul 12
The post-merger Sprint (S +4.4%) has begun trading; shares are higher on an adjusted basis....
The post-merger Sprint (S +4.4%) has begun trading; shares are higher on an adjusted basis. Janco has upgraded shares to Strong Buy today, and JPMorgan has resumed coverage at Neutral. Yesterday, Deutsche resumed coverage at Buy, citing Sprint's enormous high-frequency spectrum assets post-Clearwire, and Citi cut shares to Neutral, estimating the SoftBank and Clearwire deals could increase Sprint's net debt to $29B. SoftBank CEO Masayoshi Son says Sprint will spend a hefty $16B in capex over the next 2 years, with much of it going towards expanding LTE coverage. (unlimited plans)