Stifel Initiates Coverage of Sprint, T-Mobile, With Hold Ratings
Stifel Nicolaus initiated coverage of Sprint and T-Mobile Friday with hold ratings for both. Stifel said it saw little prospect regulators will warm to a merger between the two. Analysts cited questions about T-Mobile’s ability to buy more low-band spectrum…
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and continuing threats from Verizon and AT&T, which will be "ramping up marketing of mobile video services” this year. “We continue to believe that [Sprint] remains at an operational disadvantage to both Verizon and AT&T,” the report said. “Although the recent shutdown of its IDEN [integrated digital enhanced network], in combination with its larger Network Vision strategy should drive margins higher over the course of the next several years, we believe the company will continue to struggle to add a significant number of postpaid subscribers in the near-term.”