Clearwire rises after analyst says acquisition chances increased

theflyonthewall.com

Clearwire (CLWR) is climbing after RBC Capital analyst Jonathan Atkin upgraded the stock to Sector Perform from Underperform in a note to investors earlier today. Atkin wrote that he believes Sprint (S) will "seriously consider" either acquiring Clearwire or partnering with DISH (DISH). The likelihood that Sprint will attempt to buy Clearwire increased after Japan's Softbank acquired a 70% stake in Sprint last month, the analyst wrote. Softbank is less price sensitive than Sprint, explained Atkin ,who raised his price target on Clearwire's stock to $2.50 from $1.50. In mid-afternoon trading, Clearwire climbed 7c, or 3.07%, to $2.18.

View Comments (0)