S&P Capital IQ Maintains its BUY Rating on Sprint Nextel

October 28 00:00 2011

New York, October 28(RainbowNewsLine.com) – Analyst James Moorman of S&P Capital IQ maintains his BUY rating on the shares of Sprint Nextel (NYSE: S), while reducing his estimates for the company.

Analyst James Moorman, in a research report published yesterday mentions that the company has reported its Q3 results marginally short of the estimate. Despite of higher net adds and average revenue per user, the revenue generated is marginally lower than expected, analyst says. Although Sprint Nextel has lost 44,000 postpaid subscribers, the launch of a new iPhone in Q4 it will lead to substantial increase in subscriptions, the analyst says.  The company has announced its deal with Clearwire (CLWR 2, NR) which elevated its credit facility. The loss per share estimate for 2011 has been raised from $1.02 to $1.04, analyst adds.