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Leap Wireless (LEAP +4.3%) spikes to $6.01 on an upgrade to Strong Buy from JANCO Partners,...

Leap Wireless (LEAP +4.3%) spikes to $6.01 on an upgrade to Strong Buy from JANCO Partners, which argues shares have declined even as nothing has happened to make the firm change its $7.50 PT. Like others, JANCO sees the struggling prepaid carrier as an attractive M&A target thanks to its spectrum, and believes recent spectrum deals (I, II) bode well for Leap's buyout price. Q4 results are due on Feb. 20. (Jefferies downgrade)
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