Checks Seen as Positive for T-Mobile (TMUS), Sprint (S) - Pacific Crest
Get Alerts TMUS Hot Sheet
Rating Summary:
37 Buy, 8 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Pacific Crest maintained an Overweight rating on T-Mobile US, (NYSE: TMUS) with a price target of $47. Analyst Michael Bowen pointed out consistent checks. The report also said traffic levels at Sprint Corp. (NYSE: S) have improved, suggesting the company may be taking share from AT&T (NYSE: T) and Verizon Communications (NYSE: VZ).
"We are buyers of TMUS after consistent checks and price changes are likely to benefit ARPU," said Bowen. "Checks at Sprint show an increase in activity mainly due to the company's focus on unlimited data options. Verizon continues to be highly promotional, while AT&T followed Verizon's lead and changed its data tiers; both would modestly lower ARPU."
The analyst continued, "Our checks indicated that traffic levels at Sprint have improved month/month in July and continued into August mainly due to Sprint's focus on unlimited data options. This is consistent with our recent PCS Wireless Survey, which indicated that Sprint could begin to take share in the next 12 months. Checks indicate that Sprint is taking share from AT&T and Verizon most frequently. We are more optimistic on Sprint given the expected improvement in traffic."
"Checks indicate that activity at T-Mobile remains consistent. In addition, we believe T-Mobile's change away from promotional pricing on unlimited plans represents a price increase that should benefit ARPU. We remain Overweight T-Mobile as our top pick in the sector," Bowen added.
For an analyst ratings summary and ratings history on T-Mobile US, click here. For more ratings news on T-Mobile US, click here.
Shares of T-Mobile US, closed at $42.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- TD Cowen Resumes EQT Corp. (EQT) at Hold
- Synovus Financial (SNV) PT Lowered to $42 at Piper Sandler
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Pacific Crest SecuritiesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!