UPDATE: Janco Partners Upgrades Sprint Nextel on New Pricing Plans

In a report published Friday, Janco Partners analyst Gerard Hallaren upgraded the rating on Sprint Nextel (NYSE: S) to Strong Buy, and reiterated the $9.00 price target.

In the report, Janco Partners noted, “Sprint's new pricing plans offer far more competitive pricing than the older ones. With the exception of mobile hotspot pricing, Sprint now offers generally lower prices than Verizon, or AT&T. We think this price adjustment is long overdue. It also seems to represent a newer more aggressive and more economically motivated Sprint than was present before SoftBank's restructuring. We are raising our opinion on Sprint shares to Strong Buy (1) and are maintaining our $9.00 long-term price target.”

Sprint Nextel closed on Thursday at $0.00.