Barron’s sees upside for MetroPCS

NEW YORK, May 16 (BestGrowthStock) – MetroPCS Communications
(PCS.N: ) have seen their shares sink due to increased
competition and slowing revenue growth, but increasing demand
for prepaid cell phone services makes the shares attractive,
said Barron’s in its May 17 edition.

MetroPCS shares closed at $8.72 on Friday on the New York
Stock Exchange but could reach $12 next year, according to the
financial weekly.

Prepaid wireless subscribers grew 16 percent in the first
quarter of 2010, well above the 3 percent growth in postpaid
monthly contracts.

Rumors also persist that MetroPCS is interested in buying
rival Leap Wireless International (LEAP.O: ). The companies
declined to comment to Barron’s.

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(Reporting by Helen Kearney; Editing by Diane Craft)

Barron’s sees upside for MetroPCS