UPDATE: Daiwa Securities Starts T-Mobile US, (TMUS) at Neutral (3)
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Daiwa Securities analyst Jonathan Kees initiates coverage on T-Mobile US, (NASDAQ: TMUS) with a Neutral (3) rating and a price target of $128.00.
The analyst comments "We launch with a 3/Neutral on T-Mobile and a $128 price target, based on 55x forward earnings. Our rating and target price assume that the S&P 500 remains unchanged over the next 12 months. No longer the scrappy market entrant, T-Mobile has been integrating an older company, with its systems, people, and network. Execution risks remain high though so far integration has been impressive, as traffic has quickly shifted off the inferior Sprint network. While we like its current network leadership in 5G, T-Mobile has growth challenges as the other two national carriers ramp up their competitive attacks. They have been winning subscribers from the Sprint base. T-Mobile has now a much larger customer base to defend."
Shares of T-Mobile US, closed at $120.56 yesterday.
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