Stocks Under $10: Why Sprint is a Strong Buy

Richard Suttmeier |

Sprint Nextel (S) – ($7.15) has been upgraded to a Strong Buy rating according to ValuEngine with fair value at $7.61, which makes the stock 6.0% undervalued. The one-year price target is $8.18. ValuEngine Profile – “Sprint Nextel offers a comprehensive range of wireless and wireline communications services to consumer, business and government customers. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks offering industry leading mobile data services; instant national and international push-to-talk capabilities; and an award-winning and global Tier 1 Internet backbone.”

Analysis – The daily chart for Sprint shows declining momentum with the stock above its 21-day, 50-day and 200-day simple moving averages at $6.92, $6.36 and $5.60. My semiannual value level is $6.90 with a monthly pivot at $7.20 and weekly risky level at $7.28.

Courtesy of Thomson / Reuters


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Symbol Name Price Change % Volume
DUK Duke Energy Corporation (Holding Company) 78.02 -0.40 -0.51 2,133,129
S Sprint Corporation 6.55 -0.17 -2.53 23,888,251


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