HSBC downgraded T-Mobile (TMUS) to Hold from Buy with a price target of $270, up from $260. Without more information related to yet-to-be-completed acquisitions, HSBS sees limited valuation upside at current share levels, the analyst tells investors in a research note. The firm points out the shares up more than 25% off the January low. The outperformance suggests the market is fully aware that T-Mobile’s “beat-and-raise narrative should be sustained,” contends HSBC.
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