Wells Fargo Believes S Still Has Room to Grow

By Carrie Williams

In a report issued on November 9, Jennifer Fritzsche from Wells Fargo reiterated a Buy rating on Sprint Corp (NYSE: S). The company’s shares opened today at $7.13, close to its 52-week high of $7.44.

According to TipRanks.com, Fritzsche is a 5-star analyst with an average return of 13.7% and a 59.7% success rate. Fritzsche covers the Technology sector, focusing on stocks such as Interxion Holding N.V., Zayo Group Holdings, and Frontier Comms.

Currently, the analyst consensus on Sprint Corp is Hold and the average price target is $6.32, representing a -11.4% downside.

In a report issued on October 26, FBR Capital also reiterated a Buy rating on the stock with a $8 price target.

Based on Sprint Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $8.25 billion and GAAP net loss of $142 million. In comparison, last year the company earned revenue of $7.98 billion and had a GAAP net loss of $585 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2016, Paul Schieber, the VP & Controller of S sold 19,229 shares for a total of $71,532.

Sprint Corp. operates as a communication company, which offers a comprehensive range of wireless and wire line communications products and services to consumers, businesses and government users. The company operates through two segments: Wireless and Wireline. The Wireless segment offers wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale and affiliate basis, which includes the sale of wireless services. The Wireline segment provides a broad suite of wireline voice and data communications services to other communications companies and targeted business and consumer subscribers. In addition, it also provides voice, data and IP communication services to Wireless segment, and IP and other services to cable Multiple System Operators. Sprint was founded on October 5, 2012 and is headquartered in Overland Park, KS.