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Investing.com -- T-Mobile US was upgraded at Wells Fargo which said the stock was its top carrier pick.
Wells Fargo upgraded T-Mobile to Overweight from Equal Weight and raised its price target to $260, saying the company offers higher free cash flow growth over the next three years, sustained network leadership and greater capital return potential through buybacks.
It expects T-Mobile’s free cash flow per share to grow 15% from 2025 to 2027, while slowing at AT&T and Verizon.
Wells also cited T-Mobile’s advantage in spectrum holdings and faster network rollout, giving it a lead in coverage and speeds.
"Even if Verizon does become more promotional... underpenetrated segments contributes to TMUS’s market-leading postpaid phone," analysts say.
Postpaid phone share gains should remain solid, helped by underpenetrated segments such as small markets, enterprise and public sector, Wells Fargo said.
RBC also upgraded the stock on Monday, given strong subscriber growth and benefits from its acquisition of UScellular.
T-Mobile kept up aggressive promotions in the third quarter, including an $800 switcher credit, expanded iPhone launch offers, and new services such as Direct-to-Cell and SuperMobile for businesses.
Analysts said Verizon faces tougher near-term conditions during a CEO transition, while AT&T’s spectrum purchase will weigh on buybacks. That leaves T-Mobile better positioned to deliver industry-leading subscriber and revenue growth.