Business Services Industry
Morgan Stanley Resumes Sprint PCS Coverage
Communications Today, June 10, 2003
Investment firm Morgan Stanley on Monday resumed coverage of Sprint PCS [NYSE: PCS] with an "equal-weight" rating," saying it expects the company's shares to perform well in the near term as operational performance continues to improve. In April, Sprint PCS reported a first-quarter loss, after preferred dividends, of $186 million, or 18 cents a share, compared with a loss of $150 million, or 15 cents a share, a year ago.
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