Shares of San Diego's Leap Wireless International hit a 52-week high after an analyst said investors do not have to worry that the wireless network operator will tap the equity market to fund future expansion.
Bank of America analyst David W. Barden maintained his “buy” rating and raised his target price on the stock to $63 from $50. Leap's shares rose $1.10, or 2.2 percent, to $51.58 in Nasdaq trading. Earlier in the day, the stock hit a 52-week high of $51.95.
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