UPDATE: BMO Capital Markets Initiates Sprint Nextel at Outperform Following DISH Offer

In a report published Thursday, BMO Capital Markets analyst Kevin Manning initiated coverage on Sprint Nextel (NYSE: S ) with an Outperform rating and $9.00 price target. In the report, BMO Capital Markets noted, “We are initiating coverage of Sprint with an Outperform rating. We believe the DISH offer for Sprint