Citigroup Said Sprint Nextel (S) Remains a Potential Candidate for M&A

Citigroup upgraded Sprint Nextel (NYSE: S) from Hold to Buy today. Citigroup analyst, Michael Rollins, says, "We are upgrading Sprint to a Buy rating with an upwardly revised target price of $25 as we believe the company is better positioned to pursue a restructuring of its marketing and operations, generate net add momentum beginning in the 2H07, and remain a potential candidate for M&A."