T-Mobile price target raised to $209 from $191 at Morgan Stanley

Morgan Stanley analyst Simon Flannery raised the firm’s price target on T-Mobile to $209 from $191 and keeps an Overweight rating on the shares ahead of the company hosting their 2024 Capital Markets Day on September 18. The firm says in preview that it expects the management presentations to focus on four main areas: Growth opportunities that offer further runway; more visibility into their FWA and Fiber strategies; an update to their near- and medium-term capital allocation priorities; and their vision for further improvements in operational efficiency, leveraging AI and digital transformation to expand margins. The firm expects that the upcoming capital markets day will highlight continuation of above-market growth and a lower rate environment given the imminent start to the Fed’s rate cutting cycle, the analyst added.