T-Mobile Says Data of 7.8M Postpaid Customers Illegally Accessed

T-Mobile US, Inc. (TMUS) has disclosed that some personal data of about 7.8 million postpaid customers, along with 40 million records of former or prospective customers, has been accessed by unauthorized individuals in a cyberattack against its systems. The wireless network operator said that it has identified and closed the access point that was used by hackers to enter its servers.

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Further, the company confirmed that the names, phone numbers and account PINs of about 850,000 active T-Mobile prepaid customers have also been exposed.

The data accessed includes customers’ first and last names, date of birth, SSN and driver’s license information. As per T-Mobile, information of only a part of current and former postpay customers and prospective T-Mobile customers has been accessed.

“We have no indication that the data contained in the stolen files included any customer financial information, credit card information, debit or other payment information,” the company said. (See T-Mobile stock chart on TipRanks)

In order to help customers deal with this security lapse, T-Mobile is providing two years of free identity protection services with McAfee’s ID Theft Protection Service, recommending PIN change and publishing a web page to make solutions easily available.

On August 3, Morgan Stanley analyst Simon Flannery maintained a Buy rating on T-Mobile with a price target of $148 (upside potential of 5.2%).

Flannery expects the company to report earnings per share of $0.78 in the third quarter of 2021.

Overall, the Street is bullish on the stock and has a Strong Buy consensus rating based on 14 Buys and 2 Holds. The average T-Mobile price target of $166.73 implies 18.5% upside potential from current levels.