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Uploaded on Jul 2, 2010
Standard & Poor's Ratings Services upgraded wireless communications provider MetroPCS Communications, Inc's (NYSE:PCS) rating outlook from stable to positive Friday, and affirmed the company's credit rating of B.
"The outlook change reflects our expectation for healthy subscriber growth at MetroPCS, which we believe will lead to net free cash flow positive results after capital expenditures in 2010, albeit at modest levels," said S&P credit analyst Catherine Cosentino. "This is despite the lower profitability associated with newer markets, the near-term pressure on service margins due to new pricing plans adopted in early 2010, and incremental capital expenditures related to the company's planned Long-Term Evolution network upgrade."
MetroPCS is currently above its 200-day moving average (MA) of $7.36 and should find resistance at its 50-day MA of $8.42.
In the last five trading sessions, the 50-day MA has climbed 0.93% while the 200-day MA has slid 0.27%.
SmarTrend is bullish on shares of MetroPCS and our subscribers were alerted to Buy on April 05, 2010 at $7.30.
The stock has risen 13.6% since the alert was issued.
Shares of the company are trading down 1.07% Friday afternoon at $8.34.