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.
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