Sprint (S) Chairman Masayoshi Son has had his eye on T-Mobile (TMUS) for five years or more, and could finally realize his goal of creating a revved up competitor to AT&T (T) and Verizon (VZ) . The carrier might bear a stronger resemblance to T-Mobile than to Son's Sprint, however. "I would look at is almost as a super T-Mobile that is within striking distance of AT&T and Verizon," said Roger Entner of wireless consultancy Recon Analytics. "Knowing [T-Mobile CEO] John Legere's mantra of 'we will not stop' I don't think he would relent." T-Mobile parent Deutsche Telekcom AG reportedly aims to have control of the merged company. If it ends up with control, Entner says to expect the surviving telecom
After buckling under new regulatory hurdles last summer, Altria Group (MO) is looking a lot more attractive lately. Cowen analysts Vivien Azer and team have taken note. They upgraded the shares to Outperform Tuesday, setting a price target of $71. Azer writes: The FDA's surprise announcement left us indicating that we would be inclined to get more constructive on MO at $60 (or 16x FY2 PE). With the stock having traded below $61, we are upgrading the shares, as we view the current risk / reward as favorable. As a reminder, we continue to believe that FDA risk is longer-term, and do not expect any near term risk to numbers over the next 2-3 years, but believe that now, the market has digested this
The Permian Basin of Texas and New Mexico holds 60 billion to 70 billion barrels of yet-to-be pumped crude oil, according to a study by IHS Markit Ltd. The Permian region’s so-called recoverable resources would be enough to supply every refinery in the U.S. for 12 years and have a market value of about $3.3 trillion at current prices for West Texas Intermediate oil, the domestic benchmark. “The Permian Basin is America’s super basin in terms of its oil and gas production history and for operators it presents a significant variety of stacked targets that are profitable at today’s oil prices,” Prithiraj Chungkham, director of unconventional resources for IHS, said in the statement.