MoffettNathanson Downgrades T-Mobile US, (TMUS) to Market Perform, 'Some downgrades are harder than others'
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Rating Summary:
37 Buy, 8 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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MoffettNathanson analyst Craig Moffett downgraded T-Mobile US, (NASDAQ: TMUS) from Outperform to Market Perform, PT $174.00.
The analyst comments "Some downgrades are harder than others. We’ve been recommending T-Mobile more or less continuously since, well… since before there was a T-Mobile. That is, since 2012, when the only way to buy T-Mobile was through the anticipatory purchase of shares in MetroPCS. Throughout that decade-plus stretch, we’ve described T-Mobile as the best house on a bad block. Our relatively bearish view of the wireless industry notwithstanding, we’ve always viewed T-Mobile’s combination of improving network, lowest prices, and modest valuation as too compelling to pass up. Until now. Here’s the problem: we see a growing mismatch between industry growth rates and company expectations, not just for T-Mobile, but for all of the Big Three. There is an emergent consensus that industry subscriber growth in Q4 was actually pretty good. After all, all of the Big Three reported relatively good subscriber growth metrics. Maybe competitive intensity isn’t so bad after all."
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 $145.19 yesterday.
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