BofA raised the firm’s price target on T-Mobile (TMUS) to $240 from $220 and keeps a Buy rating on the shares after the company reported “solid” Q3 results that beat Street estimates for service revenue, core adjusted EBITDA, free cash flow, and post-paid phone net additions. The firm bases its price target on a price to forward free cash flow per share multiple that it thinks “best encapsulates T-Mobile’s differentiated shareholder return proposition,” as evidenced by a $50B three-yr share buyback/dividend payout commitment, $20B in additional capacity to enhance shareholder returns, and 8% free cash flow per share growth in 2025, the analyst tells investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TMUS:
- T-Mobile price target raised to $250 from $230 at JPMorgan
- T-Mobile price target raised to $230 from $215 at Barclays
- T-Mobile (NASDAQ:TMUS) Stock Rises on Strong Earnings and Subscriber Numbers
- T-Mobile reports Q3 EPS $2.61, consensus $2.42
- T-Mobile raises FY24 core adjusted EBITDA view to $31.6M-$31.8M