Sprint Nextel Corp. said Monday it has paid off the $1 billion balance on its $4.5 billion credit line, helping the company's stock gain more than 10 percent.
Shares jumped 35 cents to $3.44 in morning trading.
The stock also got a boost Monday from an upgrade at Credit Suisse. In an investor note, Credit Suisse analyst Jonathan Chaplin upgraded Sprint to "Outperform" from "Neutral" and raised his share price target to $6 from $4.
He said the growth of Sprint's cheaper, prepaid …
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