Citi’s $155 price target
- Shares of T-Mobile US Inc (NASDAQ: TMUS) received a price target of $155 from Citi. These are the details.
Shares of T-Mobile US Inc (NASDAQ: TMUS) received a price target of $155 from Citi. Citi analyst Michael Rollins noted that while postpaid wireless phone additions posted a strong outflow over the past quarter, the market still appears cautious on telecom carrier stocks given downside risks to industry growth and increased competition, particularly after the outperformance of the cable postpaid telephony network. adds.
Additionally, the strength of cable network additions is a function of a larger switch pool, which has benefited from device replacement cycles compressing toward pre-pandemic levels of 39 months. And Rollins maintains a more constructive view of the wireless landscape, noting that a potential competitive equilibrium could form in wireless from the stabilization of gross add shares.
Rollins expects strong wireless industry service revenue growth on balanced volume, and T-Mobile remains its top pick. And Rollins sees the company’s upcoming earnings as a recalibration opportunity for 2022 expectations.
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