Stocks: (S)(MOT)(INTC)
Someone on Wall St. must think SpintNextel is going to do better. Maybe it is the big 4G WiMax the company is going to roll out to power its broadband phones. The project is part of a technology backed by Intel, Motorola and Samsung.
Maybe Sprint’s stock is seen has having fallen enough to be a value. It traded at $26 in April and now only fetchs $19 on a good day.
December short interest in Sprint fell more than any other stock on the NYSE, down 11.4 million shares to 63.3 million.
Several analysts are willing to argue that the company’s stock is too cheap. Morningstar gives the company’s shares a "fair value" of $28 partly because it is a "partner of choice" for cable companies because it is not owned by one of the wireline phone companies.
A lot of investors don’t want to bet against that.
Douglas A. McIntyre can be reached at [email protected]. He does not own shares in companies that he writes about.
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