Believing there's a 70% chance a T-Mobile deal will go through, Macquarie has upgraded Sprint (S) to Outperform.
Macquarie downgraded Sprint to Neutral on Dec. 2, when shares were at $8.39. Prior to that, it upgraded to Outperform on Oct. 16, when shares were at $6.03.
Investors remain more skeptical a T-Mobile deal will go through, as evidenced by the fact T-Mobile shares trade 15% below a reported $40/share merger price.
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