Will Sprint (S) Stock Be Helped By This Price Target Increase?

NEW YORK (TheStreet) -- Sprint (S) shares had their price target upped to $7 from $6 by analysts at Barclays (BCS) on Thursday.

The firm is a fan of the company's new CEO Marcelo Claure and believes that he represents a good chance for the company to optimize its monetization.

"Overall, we believe the transition of Marcelo Claure to Sprint's new CEO should bode well for a company that hasn't yet seemed to have fully realized its potential in optimizing its cost structure, optimizing its distribution and leveraging the full value provided by its three-way partnership between the carrier, SoftBank (SFTBY) and BrightStar," said the firm.

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Sprint shares are down 1.7% to $6.05 in early market trading today.

S Chart S data by YCharts

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