Why Sprint (S) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of Sprint Corp  (S) are surging 6.7% to $7.01 in early market trading after the company's rating was raised to "outperform" from "market perform," with a price target of $8, by analysts at Cowen Group (COWN) this morning.

The firm cited recent growth opportunities driven by pricing, management and network changes and sees a multi-year investment opportunity with favorable risk/reward that could drive shares above its $8 price target.

Also, Sprint announced its plans to offer the new iPhones beginning on Sept. 19 as well as its iPhone for Life Plan, allowing customers to get a new iPhone for $20 per month for 24 months and a new device guaranteed every two years.

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S Chart S data by YCharts

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