T-Mobile US, (TMUS) PT Raised to $190 at Oppenheimer After Ambitious Analyst Day
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Oppenheimer analyst Timothy Horan raised the price target on T-Mobile US, (NASDAQ: TMUS) to $190.00 (from $160.00) after the company's analyst day where management set ambitious long-term financial targets, including $60B of stock buybacks and $70B/$18B of service revenue/FCF by 2026.
The analyst stated "TMUS is taking advantage of its superior network quality and capacity to roll out new services like home broadband, rural, and enterprise where it has very low relative market share. Its 5G spectrum and solid execution gives it a 2- to 3-year lead vs. VZ/T. The merger with Sprint is going better than expected. We are increasing our PT to $190 based on a conservative 15x our FY22 FCF/share forecast and maintain our Outperform rating."
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