Investors Should Answer Sprint’s Call

Following a pullback in mid-July, the stock looks like a solid buy

   
Investors Should Answer Sprint’s Call

Sprint Nextel Corporation (NYSE: S) — This leading wireless provider was in a bear market since 2006, falling from over $24 to under $2 in late 2008. 

I began recommending Sprint early this year at $3.25, and traded it to over $5.

Following a pullback from $5 in mid-July, the stock again looks like a solid buy. The trading target is raised to $6, but a run to $10 by year-end is possible. 

The pullback in S is not unusual, and since the stock is consolidating within a triangle, we’ll stick with the former targets and accumulate the stock above $4.20. 

S&P rates the stock a “four-star buy” and recently increased its 12-month target to $6 from $5.

08 10 10 s Investors Should Answer Sprints Calldmo chart key9 Investors Should Answer Sprints Call

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.

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Article printed from InvestorPlace Media, http://investorplace.com/2010/08/stock-picks-sprint-nextel-corporation-s-3/.

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