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Sprint Corp. (NYSE:S) was upgraded by stock analysts at Nomura from a “neutral” rating to a “buy” rating in a report issued on Thursday, reports. The firm currently has a $10.50 target price on the stock, up from their previous target price of $6.00. Nomura’s price objective indicates a potential upside of 32.08% from the stock’s previous close.

The analysts wrote, “We are upgrading our rating on Sprint to Buy and increasing our target price from $6 to $10.50. The heart of our call is that Sprint will likely double Adj. EBITDA owing to modest revenue growth and significant cost reductions. We believe operating cost reductions should be seen in two buckets: lower project spending (iDEN, Network Vision, roaming) and flat ongoing expenses. Our estimates are ahead of consensus, though they are more conservative than Sprint’s publicly-disclosed forecasts in the proxy filings. We do not believe another round of Wireless M&A is likely given the already concentrated nature of the industry, and our forecasts and target price do not include further consolidation.”

Several other analysts have also recently commented on the stock. Analysts at Macquarie downgraded shares of Sprint Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Pacific Crest downgraded shares of Sprint Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday, November 25th. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Sprint Corp. in a research note to investors on Wednesday, November 20th. They now have a $7.49 price target on the stock, up previously from $5.50. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Sprint Corp. has an average rating of “Hold” and an average price target of $7.44.

Shares of Sprint Corp. (NYSE:S) opened at 7.95 on Thursday. Sprint Corp. has a 52-week low of $5.61 and a 52-week high of $8.75. The stock’s 50-day moving average is $7.1 and its 200-day moving average is $6.70. The company’s market cap is $31.261 billion.

Sprint Corp. (NYSE:S) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.00 EPS for the quarter. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.69 billion.

Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.

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