Relaunching Coverage of Sprint With No Economic Moat, Stable Moat Trend, and FVE of $5
We are relaunching coverage of Sprint with a $5 fair value estimate, no moat, stable moat trend, and an extreme fair value uncertainty rating, meaning that we cannot recommend shares without a massive margin of safety. Through improving liquidity, postpaid customer growth, and falling operating expenses, Sprint has made progress on its most urgent issues. However, Sprint still faces a difficult road ahead, in our view, in returning to service revenue growth, turning around the prepaid business, ...Sprint is a holding company. Through its subsidiaries, the company is a communications company providing wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers. The company has two segments: Wireless, which provides wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis, including the sale of wireless services that utilize the company's network but are sold under the wholesaler's brand; and Wireline, which provides a suite of wireline communication services to other communications companies and targeted business customers, as well as voice, data and internet protocol communication services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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