UPDATE: Jefferies Downgrades Leap Wireless International to Underperform
Posted on January 17, 2013 at 09:17 AM EST
Jefferies downgraded Leap Wireless International (NASDAQ: LEAP ) from Hold to Underperform and lowered the price target from $6.00 to $5.00. Jefferies noted, "Business trends have been weak in 2012 and we forecast that to continue, competition is getting more intense, and Leap has limited financial flexibility. We do not