Credit Suisse:Raising EBITDA Estimates On Higher ARPU And Lower Network Vision Expense
This is quite a quote, especially "Sprint has more upside than any other stock in our universe over the next 3-5 years". It makes me want to be positive about S this week!!
Impact to thesis: We believe Sprint has more upside than any other stock in our universe over the next 3-5 years; however, we have been more cautious on the near-term due to higher churn. These changes have no impact on our long-term view; however, a smaller FCF drag in the near-term yields a greater margin for error as Sprint navigates the network upgrade while absorbing margin pressure from iPhone sales. Although we remain concerned about churn, a greater margin for error lowers the risk that higher churn poses to our long-term thesis.