Leap Wireless downgraded at Wells Fargo

theflyonthewall.com

As noted earlier, Wells Fargo downgraded Leap Wireless to Market Perform from Outperform. The firm is unsure of whether another bid will emerge for Leap, as it notes that MHR Fund Management, which has a 29% stake in the company, has approved the AT&T deal. The firm also cited valuation as a reason for the downgrade.

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