Sprint’s value lowered


SprintAnalysts over at Merrill Lynch have lowered Sprint Nextel shares from Buy to Neutral, citing customer complaints about call quality and high churn rates as the main reasons. During a 50 store check in 3 markets, Merrill Lynch found customer perception of Nextel voice quality has continued to drop despite Sprint’s rebranding attempts. Analysts also found that some store employees were initially unclear on the specifics of the new plans, in particular the inclusion of mobile-to-mobile calling between the CDMA and iDEN customers for CDMA customers.