MetroPCS Communications, Inc. (PCS)

[bowonwing]

S&P "Buy," PT $12, November 5, 2009, S&P MAINTAINS BUY OPINION ON SHARES OF METROPCS COMMUNICATIONS (PCS 6.12****): PCS reports Q3 earnings per share, before one-time items, of $0.21 vs. $0.13, $0.11 above our estimate. Revenues were above our estimate on stronger than expected revenue per user, despite net additions
that were well below our forecast. We are raising our '09 earnings per share
estimate $0.15 to $0.54 and '10's by $0.09 to $0.82. Although Q3 results were
disappointing, we believe that profitability will improve throughout '09 and we
believe shares are undervalued. We are reducing our 12-month target price by $2
to $12 based on revised peer analysis of enterprise value/EBITDA. /J.Moorman,
CFA