Sprint (S) -4.5% premarket after shares are downgraded to Underperform from Market Perform at...

|About: Sprint Corporation (S)|By:, SA News Editor

Sprint (S) -4.5% premarket after shares are downgraded to Underperform from Market Perform at Bernstein, which believes the next generation LTE iPhone will be badly disadvantaged on Sprint's network, thus impacting sales. The risks of bankruptcy for Sprint are rising, the firm says while not actually predicting this will occur. The stock price target is cut to $1.75 from $2.50.